Examples of Designated Roth Contribution in a sentence
It is intended that amounts deferred under this Plan constitute excludable gross income for federal and state income tax purposes until they are paid or otherwise made available to Participants or their Beneficiaries except to the extent that the amount deferred is a Designated Roth Contribution.
Each Participant may make Designated Roth Contributions; provided, however, that a Participant shall not make a Designated Roth Contribution to the Plan for any Plan Year to the extent such Designated Roth Contributions combined with any pre-tax deferrals to the Plan would exceed the limitations of Article IV.
Such contributions will be credited to a separate Designated Roth Contribution Account maintained for each Participant.
The amount so transferred shall be credited to the Participant's Account as a pre-tax deferral or a Designated Roth Contribution and shall be held, accounted for, administered and otherwise treated in the same manner as an Annual Deferral by the Participant under the Plan, except that the transferred amount shall not be considered an Annual Deferral under the Plan in determining the maximum deferral under Article IV.
Furthermore, the Plan will treat a Participant’s Designated Roth Contribution Account and the Participant’s other Accounts as held under two separate plans for purposes of applying the automatic rollover rules.
The Plan shall not provide for a direct rollover (including an automatic rollover) for distributions from a Participant's Designated Roth Contribution Account if the amount of the distributions that are eligible rollover distributions are reasonably expected to total less than $200 during a year.
If Participant loans are permitted under the Plan, for any loans made after the date as of which Participants may make Designated Roth Contributions to the Plan the loan policy or program shall permit Participants to use as security a Participant's Designated Roth Contribution Account; provided, however, that loans may not be funded from the Participant’s Designated Roth Contribution account.3A.06 ROLLOVERS.
A Designated Roth Contribution is designatedirrevocably by the Participant as a contribution being made in lieu of the pre-tax elective deferrals the Participant is otherwise eligible to make under Section 3.01 and is treated as includible in the Participant’s income at the time the Participant would have received that amount in cash if the Participant had not made an election.
A Designated Roth Contribution isdesignated irrevocably by the Participant as a contribution being made in lieu of the pre-tax elective deferrals the Participant is otherwise eligible to make under Section 3.01 and is treated as includible in the Participant’s income at the time the Participant would have received that amount in cash if the Participant had not made an election.
Nearly all the remaining funds in the 5337 account were transferred in October 2010 to a bank account entitled “Execupro Specialty Services, Inc., ESOP Designated Roth Contribution Account.” This repaid two of R&A’s clients for advances they had made to Counselor Capital, Inc., from 2007 through 2010 that Ryder had used to fund the ranch entities.