Xxxx IRAs Sample Clauses

Xxxx IRAs. Xxxx IRAs may be obtained through the use of direct deposit through financial institutions as found in Section 9 above. Article 30, Section 5.B.1.

Xxxx IRAs. A contract that is pur- chased under a Xxxx XXX is not treated as a contract that is intended to be a QLAC for purposes of applying the dol- lar and percentage limitation rules in paragraphs (b)(2)(ii)(B) and (b)(3)(ii)(B) of this A–12. See A–14(d) of § 1.408A–6. If a QLAC is purchased or held under a plan, annuity, account, or traditional IRA, and that contract is later rolled over or converted to a Xxxx XXX, the contract is not treated as a contract that is intended to be a QLAC after the date of the rollover or conversion. Thus, premiums paid with respect to the contract will not be taken into ac- count under paragraph (b)(2)(ii)(B) or paragraph (b)(3)(ii)(B) of this A–12 after the date of the rollover or conversion.

Xxxx IRAs. Enrollment and changes may be made only during the months of September and January. A minimum of five teachers must sign up in order to initiate each Xxxx XXX provider. A teacher may terminate an annuity program at any time. A signed deduction authorization must be received by the Treasurer's Office before deductions can begin. A teacher may terminate a Xxxx XXX deduction at any time.

Xxxx IRAs. General Provisions: You may take distributions at any time from your Xxxx XXX. Certain minimum distributions are required to be made to your Beneficiary(ies) upon your death although no minimum distributions are required to be made to you while you are living. (See the section entitled

Xxxx IRAs. Xxxx IRAs may be obtained through the use of direct deposit through financial institutions.

Xxxx IRAs. Effective February 1, 2001, the District shall make available through payroll deduction Xxxx IRA’s to all bargaining unit members.

Xxxx IRAs. 22 Xxxxx................................... 23 Section 403(b) Plans and Arrangements... 23 Designated Xxxx Accounts for 403(b) Plans................................. 24 Qualified Pension and Profit-Sharing Plans................................. 25

Xxxx IRAs. Regardless of whether you die before, on, or after your required beginning date, RMDs from a Xxxx XXX after your death are calculated in accordance with the rules described under “Death Before Your Required Beginning Date.” If you (or your beneficiaries after your death) do not take the RMD for a year, you (or your beneficiaries) may be subject to a 50% federal penalty tax, called an excess accumulations penalty, on the difference between the amount that should have been withdrawn and the amount actually withdrawn. The IRS may waive the penalty tax if you (or your beneficiary) can prove the failure to take the RMD was due to reasonable error and the error is being corrected.

Xxxx IRAs. General Provisions: There are no required minimum distributions during your life. Upon your death, your Beneficiary(ies) will be required to take certain mandatory distributions, often referred to as “Required Minimum Beneficiary Distributions” or “RMBDs.” The amount and timing of these distributions will depend primarily upon your choice of Beneficiary (for example, if your spouse is your sole Beneficiary, he or she can treat the XXX as his or her own). The minimum distribution rules applicable to Xxxx IRAs upon the death of a Participant are the same as the minimum distribution rules that apply to Traditional XXX and SIMPLE XXX Beneficiaries when a Participant dies before his or her Required Beginning Date (April 1 of the year following the year the Depositor attains age 72 (70½ if born before July 1, 1949).) Due to the complexity of these rules, your Beneficiaries, upon your death, are encouraged to consult their tax advisors or attorneys for additional guidance on how to apply these rules.

Xxxx IRAs. In general, the same limits that apply to contributions to Traditional IRAs also apply to Xxxx IRAs, with the following differences. First, you can make a contribution to a Xxxx XXX even after you have attained the age of 70-1/2. Second, only a taxpayer whose adjusted gross income is below certain levels is eligible to contribute to a Xxxx XXX. A single taxpayer can make a full $2,000 contribution in a year if his adjusted gross income is not more than $95,000. Married taxpayers who file a joint return can make a full $4,000 contribution if their combined adjusted gross income is not more than $150,000. Partial contributions are permitted for a single taxpayer whose adjusted gross income is between $95,000 and $110,000, or for married taxpayers who file a joint return and whose adjusted gross income is between $150,000 and $160,000. A married taxpayer who files an individual return can make a partial contribution if his/her adjusted taxable income is less than $10,000. These partial contributions are calculated in the same manner as the limitation on the deductibility of contributions to a Traditional IRA, including the adjustments to adjusted gross income, as described under Contributions N Deductible Contributions on page 5. A single $2,000 limit ($4,000 for married taxpayers filing joint returns) applies to contributions to both Traditional IRAs and Xxxx IRAs. Thus, a single taxpayer who is otherwise eligible to contribute to both a Traditional IRA and a Xxxx XXX can contribute a total of $2,000, which he or she can divide between the Traditional and the Xxxx XXX in any manner. A married couple filing a joint return can similarly divide their maximum $4,000 total contribution between Traditional and Xxxx IRAs. These rules apply regardless of whether the contributions to the Traditional IRA are deductible. If you make a contribution to either a Traditional IRA or a Xxxx XXX for a year, you may transfer the contribution, including all income, to the other type of IRA prior to the due date for your tax return, in which case the contribution will be treated as if you had made it directly to the transferee IRA. For this purpose, the due date of your tax return includes any extension of time, even though extensions are not included for purposes of making the original contribution.