Investment of Income Subaccount Sample Clauses

Investment of Income Subaccount. The Investment Manager shall invest and reinvest moneys to the credit of the Income Subaccount of each Locality for the benefit of such Locality in accordance with the provisions of the Information Statement, this Agreement and the Related Tax Agreements. The Investment Manager shall credit to the Locality's Income Subaccount all income and profits from the investment and reinvestment of moneys to the credit thereof.
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Related to Investment of Income Subaccount

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

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