Xxxx Account. Individual or employee plan contributions made to certain plans on an after-tax basis. An IRA may be established as a Xxxx XXX under Section 408A, and 401(k), 403(b) and 457(b) plans may provide for Xxxx accounts. Contributions to a Xxxx XXX are limited based on the level of your modified adjusted gross income. Comparison of Plan Limits for Individual Contributions: IRA $6,500 $1,000 SIMPLE IRA $15,500 $3,500 401(k) $22,500 $7,500 SEP/401(a) (Employer contributions only) 403(b) [TSA] $22,500 $7,500 457(b) $22,500 $7,500 Dollar limits are for 2023 and subject to cost-of-living adjustments in future years. Employer-sponsored individual account plans (other than 457(b) plans) may provide for additional employer contributions not to exceed the lesser of $66,000 and 100% of an employee’s compensation for 2023. While no attempt is being made to discuss the Federal estate tax implications of the Contract, you should bear in mind that the value of an annuity contract owned by a decedent and payable to a beneficiary by virtue of surviving the decedent is included in the decedent’s gross estate. Depending on the terms of the annuity contract, the value of the annuity included in the gross estate may be the value of the lump sum payment payable to the designated beneficiary or the actuarial value of the payments to be received by the beneficiary. Consult an estate planning adviser for more information.
Xxxx Account. 1. The School Corporation agrees to contribute One Percent (1%) of the Teacher's step base salary for that school year to an individual account in a VEBA for each eligible Teacher.
2. The VEBA account will be vested at Twenty Percent (20%) per year of service with the School Corporation. The vested account may be used upon retirement or termination of employment for premiums on medical, dental or vision coverage, as well as other qualified medical expenses under Section 213 of the Internal Revenue Code. If a Teacher retires, dies, or otherwise terminates employment before satisfaction of the vesting requirements, the Teacher's VEBA plan account shall be forfeited. The forfeited amounts shall be used to reduce future School Corporation contributions.
Xxxx Account a) The cardholder may not overdraw his/her account by giving a transaction instruction. And if it so happens that the account becomes overdrawn through action of the cardholder, then the Bank is entitled to claim not only the amounts owed but the interest and recovery charges as well.
Xxxx Account. For administrative convenience the parties may establish a joint bank account which will be utilized to pay shared expenses.
Xxxx Account. 1. The School Corporation agrees to contribute One Percent (1%) of the Teacher's step base salary for that school year to an individual account in a VEBA for each eligible Teacher. For the 2020-21 school year, the Corporation will make a one-time $375 contribution to the Teacher’s VEBA account, which will be deposited within 6 weeks of ratification.
2. The VEBA account will be vested at Twenty Percent (20%) per year of service with the School Corporation. The vested account may be used upon retirement or termination of employment for premiums on medical, dental or vision coverage, as well as other qualified medical expenses under Section 213 of the Internal Revenue Code. If a Teacher retires, dies, or otherwise terminates employment before satisfaction of the vesting requirements, the Teacher's VEBA plan account shall be forfeited. The forfeited amounts shall be used to reduce future School Corporation contributions.
Xxxx Account. The partnership may select a bank for the purpose of opening a bank account. Funds in the bank account shall be withdrawn by checks signed by any partner designated by the partnership.
Xxxx Account. The Partnership may select a bank for the purpose of opening a bank account. Funds in the bank account shall be withdrawn by checks signed by any Partner designated by the Partnership.
Xxxx Account o(VI)After-tax Account. o(VII)Voluntary Deductible Account.
Xxxx Account. Adtalem shall maintain an account (the “Account”) on its books in the name of the Participant which shall reflect the amount of the Cash Award to the Participant and that is not yet vested. Until the Cash Award vest, it just represents Xxxxxxx’s unsecured promise to pay to the Participant cash upon vesting.
Xxxx Account. The operating account (“Operating Account”) for this Joint Venture shall be established at Truist Bank. The Operating Account shall be established in the name of the Joint Venture. All payments due the Joint Venture for performance on work performed shall be deposited into the Operating Account, and all expenses incurred under the Contract shall be paid out from the Operating Account.