Traditional IRA Contributions Sample Clauses

Traditional IRA Contributions. An Individual may make a cash contribution in any amount up to the Maximum Annual Contribution (reduced by the amount of any contributions made by the Individual or on the Individual’s behalf to another IRA or to a Xxxx XXX for the same Tax Year) in which the Individual is under the age of 70 1/2. The Trustee is not permitted to accept contributions in excess of the Maximum Annual Contribution amount for any Tax Year unless it is a Rollover Contribution [as permitted by Code Sections 402(c) and 403(a)(4)]. Contributions may be made to an IRA for any Tax Year at any time starting on the first day of the Tax Year and ending on the day the Individual’s Federal income tax return is due for such year (not including any extensions). Except in the case of a Rollover Contribution [as permitted by Code Sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3) and 457(e)(16)(A)(i)], the total of such contributions shall not exceed the Maximum Annual Contribution amount for each year listed below: Tax Years Maximum Annual Contribution Amount 2002 through 2004 $ 3,000 2005 through 2007 $ 4,000 2008 and thereafter $ 5,000 For years after 2008, the $5,000 limit is subject to cost-of-living adjustments (“COLAs”) under Code Section 219(b)(5)(c). Such adjustments will be in $500 increments. If by December 31 of any taxable year an Individual is age fifty (50) or over, the Individual may make an additional contribution (a “Catch-Up Contribution”) to all of the Individual’s IRAs in the aggregate (and if the Individual is eligible, Xxxx IRAs) up to $500 for Tax Years 2002 through 2005, and up to $1,000 for Tax Years 2006 and thereafter. If the Individual is eligible, any annual contribution the Individual makes that exceeds the Individual’s Maximum Annual Contribution will be treated as a Catch-Up Contribution (up to the limits described above) unless the Individual elects to treat such amounts as an Excess Contribution described in paragraph 18.8 below.
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Traditional IRA Contributions. An Individual may make a cash contribution in any amount up to the lesser of the Maximum Annual Contribution or 100% of Compensation for a Tax Year (reduced by the amount of any contributions made by the Individual or on the Individual’s behalf to another IRA or to a Xxxx XXX for the same Tax Year) in any year in which the Individual is under the age of 70 1/2. The Trustee is not permitted to accept contributions in excess of the Maximum Annual Contribution amount for any Tax Year unless it is a Rollover Contribution [as permitted by Code Sections 402(c) and 403(a)(4)]. Contributions may be made to an IRA for any Tax Year at any time starting on the first day of the Tax Year and ending on the day the Individual’s Federal income tax return is due for such year (not including any extensions). Except in the case of a Rollover Contribution [as permitted by Code Sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3) and 457(e)(16)(A)(i)], the total of such contributions shall not exceed the Maximum Annual Contribution amount for each year listed below: Years Maximum Annual Contribution Amount 2002 through 2004 $ 3,000 2005 through 2007 $ 4,000 2008 and thereafter $ 5,000 For years after 2008, the $5,000 limit is subject to cost-of-living adjustments (“COLAs”) under Code Section 219(b)(5)(c). Such adjustments will be in $500 increments.
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Related to Traditional IRA Contributions

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Contributions Without creating any rights in favor of any third party, the Member may, from time to time, make contributions of cash or property to the capital of the Company, but shall have no obligation to do so.

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 10 of the Adoption Agreement after completing ________ (enter 0, 1, 2 or any fraction less than 2)

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • EMPLOYEE CONTRIBUTIONS [X] (a) Participants shall be permitted to make Elective Deferrals in any amount from 1 % up to 15 % of their Compensation. If (a) is applicable, Participants shall be permitted to amend their Salary Savings Agreements to change the contribution percentage as provided below:

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • Charitable Contributions Make any charitable or similar contributions, except in amounts not to exceed five thousand dollars ($5,000) individually, and twenty thousand dollars ($20,000) in the aggregate.

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