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Qualified Contracts definition

Qualified Contracts. Contracts issued in connection with retirement plans that receive favorable tax treatment under Sections 401, 403, 408, 408A or 457 of the Internal Revenue Code.
Qualified Contracts. The Primary Annuitant must be the employee. If one of the Joint Life Payout Options is elected, the Joint Annuitant must be the Spouse of the Annuitant unless both consent otherwise.
Qualified Contracts. Certain Plan provisions required by the Code, ERISA or other applicable laws may limit the Owner's rights under this Contract. The provisions may: 1) Require consent of the Owner's Spouse before the Owner may elect to receive Income Payments.

Examples of Qualified Contracts in a sentence

  • Qualified Contracts may have additional restrictions on naming and changing Beneficiaries.

  • Each additional Purchase Payment must be at least $250 for Non-Qualified Contracts and $50 for Qualified Contracts.

  • Certain Owners of Qualified Contracts may borrow against their Contracts.

  • In addition, various tax-qualification rules for Qualified Plans specifically limit increases in benefits once RMDs begin, and Qualified Contracts are subject to such limits.

  • Certain Qualified Contracts may require distributions to occur at an earlier age.

  • Unlike Non-Qualified Contracts, Qualified Contracts are subject to federal penalty taxes not just on premature distributions, but also on excess contributions and failures to make required minimum distributions (“RMDs”).

  • For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day.

  • The tax rules applicable to Qualified Contracts and Qualified Plans, including restrictions on contributions and distributions, taxation of distributions and tax penalties, vary according to the type of Qualified Plan, as well as the terms and conditions of the Plan itself.

  • For non-periodic amounts from certain Qualified Contracts or Plans, Code Section 72(e)(8) provides special rules that generally treat a portion of each amount received as a tax-free recovery of the “investment in the contract,” based on the ratio of the “investment in the contract” over the Contract Value at the time of distribution.

  • This provision is available for Tax Qualified Contracts if agreed to by Us.


More Definitions of Qualified Contracts

Qualified Contracts means contracts that:
Qualified Contracts are Contracts purchased in connection with a plan that qualifies for favorable tax treatment under Sections 401, 403(b) or 408 of the Internal Revenue Code.
Qualified Contracts means the total value of contracts measured by revenue due to Employer or any of its subsidiaries over the entire period of the contracts. “Qualified Mining Contracts” means the estimated value of material sold by Employer or any of its subsidiaries under mining contracts or mineral licenses in a single year or a maximum of five years if contracts are for five or more years. The Board shall make all determinations of the value of new Qualified Contracts and Qualified Mining Contracts. For purposes of this Section 3.4 “subsidiaries” shall include any entity in which Employer directly or indirectly owns 50% or more of the voting securities.
Qualified Contracts are Contracts purchased in connection with a plan that qualifies under Sections 401, 403(b), 408 or 457 of the Internal Revenue Code.

Related to Qualified Contracts

  • Qualified Contract A Contract that qualifies under the Code as an individual retirement annuity (“IRA”) or a Contract purchased under a Qualified Plan that qualifies for special tax treatment under the Code. Qualified Plan — A retirement plan that receives favorable tax treatment under Section 401, 403, 408, 408A or 457 of the Code. SEC — Securities and Exchange Commission.

  • Specified Contracts has the meaning set forth in Section 4.13(a).

  • Qualified Contractor ’ means a residential energy ef-

  • Specified Contract means any of the following Contracts (together with all exhibits and schedules thereto) to which the Company or any Subsidiary is a party:

  • Scheduled Contracts has the meaning set forth in Section 4.16.

  • Acquired Contracts has the meaning given in Section 2.1(a).

  • Assigned Contracts has the meaning set forth in Section 2.01(c).

  • Assumed Contracts has the meaning set forth in Section 2.1(d).

  • New Contracts means binding new agreements or amendments to existing agreements with customers.

  • Related Contracts is defined in clause (c) of Section 2.1.

  • Transferred Contracts has the meaning ascribed to it in Section 2.1(c).

  • Seller Contracts means all contracts or agreements to which Seller is a party or to which any of its material assets are bound.

  • Project Contracts means collectively this Agreement, the Land Lease Agreement, the Construction Contract, O&M Contracts (if any) and any other material contract (other than the Financing Documents) entered into or may hereafter be entered into by the Concessionaire in connection with the Project;

  • Shared Contracts means agreements, arrangements, commitments or understandings, whether or not in writing, between one or more members of the Publishing Group and / or one or more members of the Distributing Group, on the one hand, and any Third Parties, on the other hand, that are used in the conduct of, or directly benefit or burden, either (i) both the Distributing Business and the Publishing Business or (ii) the Business of a Group not party thereto.

  • Existing Contracts means the existing licenses and contracts given by the Railway Administration / Authority, in relation to commercial establishments, as existing on Station Development Land, as on the date of the Agreement, and as further set out in the Schedules, which shall, for avoidance of doubt, exclude any licenses and/ or contracts in relation to any Excluded Activities and/or Railway Operational Activities;

  • Purchased Contracts has the meaning set forth in Section 2.1.1(a).

  • Retained Contracts shall have the meaning set forth in Section 1.2(i).

  • Assigned Contract has the meaning set forth in Section 2.2.

  • Initial Contracts means those Contracts conveyed to the Trust on the Closing Date.

  • Company Contracts has the meaning set forth in Section 3.13(a).

  • Excluded Contracts has the meaning set forth in Section 2.02(a).

  • Material Contracts has the meaning set forth in Section 3.09(a).

  • Assumed Contract means any Executory Contract or Unexpired Lease assumed by the Reorganized Debtors in accordance with Article V of the Plan.

  • Service Contracts means contracts or agreements, such as maintenance, supply, service or utility contracts.

  • Applicable Contracts has the meaning set forth in Section 2.1(d).

  • Assignment of Contracts shall have the meaning provided in Section 5.07.