Deemed IRA definition

Deemed IRA means a Deemed Roth IRA and/or a Deemed Traditional IRA.
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Deemed IRA means an individual retirement account (“IRA”) available through an Investment Provider, and treated as a separate account from the Account, into which a Participant may make voluntary contributions pursuant to the terms of the Plan after December 31, 2002. If the IRA satisfies the requirements applicable to traditional IRAs under Code Section 408,
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Examples of Deemed IRA in a sentence

  • The balance in an Individual’s Deemed IRA account is nonforfeitable at all times.

  • The required minimum distribution rules of Code Section 401(a)(9) must be met separately with respect to the Employer Qualified Plan and the Deemed IRA.

  • Separate annuity contracts must be established for the interest of each Individual to hold Deemed IRA contributions.

  • Any separate trust established to hold Deemed IRA contributions shall satisfy the applicable requirements of Code Sections 408 and 408(A), whose requirements are set forth in Articles XVIII and XIX, and will not be considered an Employer Qualified Plan.

  • Similarly, the requirements of Code Sections 408 and 408(A) and the rules set forth in Articles XVIII and XIX will not be applicable to the Employer’s Qualified Plan established hereunder if the Deemed IRA contributions are made to a separate trust.

  • The failure of either the Employer Qualified Plan portion or the Deemed IRA portion of the Plan to satisfy the applicable qualification rules of each will not cause the other portion to be automatically disqualified, provided the Deemed IRA portion and the Qualified Plan portion are maintained as separate Trusts (or separate annuity contracts, as required in the case of a Deemed IRA annuity).

  • The determination of whether an Employer Qualified Plan satisfies the required minimum distribution rules of Code Section 401(a)(9) is made without regard to whether a Participant satisfies the required minimum distribution requirements with respect to the Deemed IRA that is established under such Plan.

  • If both the Deemed IRA portion and the Qualified Plan portion are included in separate Trusts, and the Qualified Plan is disqualified, the IRA portion will not be considered a Deemed IRA under Code Section 408(a), but it will not fail to satisfy the applicable requirements of Code Sections 408 or 408(A) if it satisfies the applicable requirements of those sections, including, with respect to individual retirement accounts the requirements of Code Section 408(a)(5) with regard to commingling of assets.

  • The assets of a Deemed IRA may be commingled for investment purposes with those of Employer Qualified Plan.

  • However, the restrictions on the commingling of Plan and IRA assets as outlined in Code Section 408(a)(5) with other assets apply to the assets of the Employer Qualified Plan and the Deemed IRA.