NONQUALIFIED CONTRACT definition
NONQUALIFIED CONTRACT. A retirement arrangement plan other than a qualified plan described under Section 401, 403, 408, 457 or any similar provisions of the Internal Revenue Code.
NONQUALIFIED CONTRACT a Contract other than a Qualified Contract, funded by after-tax contributions. OUR OFFICE - the Home Office of The Travelers Life and Annuity Company or any other office which We may designate for the purpose of administering this Contract. All correspondence regarding this Contract should be sent to Our mailing address stated on the cover page of this Contract. PREMIUM TAX - the amount of tax, if any, charged by a state or municipality. We will deduct any applicable Premium Tax from the Contract value either upon surrender, annuitization, death, or at the time a Purchase Payment is made, but no earlier than when We have the liability under state law. PURCHASE PAYMENT(S) - payments of premium You make to Us under this Contract.
NONQUALIFIED CONTRACT. A Contract that is not a Qualified Contract.
Examples of NONQUALIFIED CONTRACT in a sentence
QUALIFIED CONTRACTS are any contract other than those described under the sections of the Code listed above ("NON-QUALIFIED CONTRACT").
NON-QUALIFIED CONTRACT - A Contract which does not qualify for favorable tax treatment under the provisions of Sections 401 or 403(a) (qualified plans), 408 (IRAs) or 403(b) (Tax-Sheltered Annuities) of the Code.
More Definitions of NONQUALIFIED CONTRACT
NONQUALIFIED CONTRACT. A contract other than a Qualified Contract, funded by after-tax contributions. OUR OFFICE - The Home Office of The Travelers Life and Annuity Company or any other office which We may designate for the purpose of administering this Contract. All correspondence regarding this Contract should be sent to Our mailing address stated in the cover page of this Contract.