Maximum Contribution Limit Sample Clauses

Maximum Contribution Limit. The Treasurer will set a Maximum Account Balance for the Program. You may not make additional Contributions to any Account for a Beneficiary once the aggregate balance of all Accounts for the Beneficiary, and all accounts in other Illinois Section 529 Programs for the Beneficiary, including the Bright Start Direct-Sold College Savings Program and College Illinois!, equals or exceeds the Maximum Account Balance. The Program will inform you of the Maximum Account Balance for each year.
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Maximum Contribution Limit. An Account Owner may continue to make contributions to an Account for a designated beneficiary so long as the aggregate balance of all Accounts for the same designated beneficiary under all 529 savings plans sponsored by the State of Nevada under the Act does not exceed the Maximum Contribution Limit, which is currently $370,000. Accounts that have reached the Maxi- mum Contribution Limit may continue to accrue earnings, although future contributions may not be made to such Accounts. The Maximum Contribution Limit is based on the aggregate market value of the Account(s) for a desig- nated beneficiary, and not solely on the aggregate contributions made to the Account(s). If, however, the market value of such Account(s) falls below the Maximum Contribution Limit, due to market fluctuations and not a s result of withdrawals from such Account(s), ad- ditional contributions will be accepted. The Plan may, in its discretion, refuse to accept a contribution, upon determina- tion that acceptance of such contribu- tion would not comply with federal or state requirements. None of Ascensus, USAA, the Board, the State of Nevada, all agencies, instrumentalities, and funds of the State of Nevada, the Trust, the Plan and their respective affiliates, officials, officers, directors, employees, and representatives will be respon- sible for any loss, damage, or expense incurred with a rejected or returned contribution. The Board is required to set the Maximum Contribution Limit for all Accounts for a designated beneficiary. The Board expects to evaluate the Maximum Contribution Limit peri- odically. Information concerning the current Maximum Contribution Limit may be obtained through the Plan. It is possible that federal law might impose different limits on maximum allowable contributions in the future. Maximum Contribution Limit does not apply to Accounts maintained for a scholarship program by a state or local government (or agency or instrumentality) or orga- nization described in Section 501(c)(3) of the Code. Excess Contributions The Plan will not accept any contribu- tion that would cause the Account bal- ance to exceed the Maximum Contribu- tion Limit (Excess Contributions). All or a portion of the contribution that is an Excess Contribution will be rejected and returned to the contributor. The Plan and its service providers will not be responsible for any adverse tax consequences that may result from the return or rejection of Excess Contribu- tions.
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Maximum Contribution Limit. The Trustee will set a Maximum Contribution Limit for the Trust. You may not make additional contributions to any account for a Beneficiary when the fair market value of all accounts owned by all account owners within the Trust for a Beneficiary equals or exceeds the Maximum Contribution Limit. If, however, the fair market value of such account falls below the Maximum Contribution Limit, additional contributions will be accepted. The Trust will inform you of the Maximum Contribution Limit for each year. Currently, the Maximum Contribution Limit is $500,000. The $500,000 Maximum Contribution Limit applies to all accounts for the same Beneficiary in all plans administered by the Trustee, including the Plan, the NEST Direct Plan, the TD Ameritrade 529 College Savings Plan and the State Farm 529 Savings Plan.
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Maximum Contribution Limit. The maximum aggregate account balance, established by the Committee from time to time, which will limit the amount of Contributions that may be made to Accounts for any one Designated Beneficiary, as required by Section 529. The balance in all accounts for the same Designated Beneficiary in Arkansas-sponsored 529 Plans (regardless of the Account Owner) will be aggregated for purposes of applying the Maximum Contribution Limit. As of the date of this Program Description, the Maximum Contribution Limit is $366,000. Member of the Family — A Member of the Family as defined in Section 529 (see “MANAGING AND MODIFYING AN ACCOUNT – Member of the Family” on page 46).
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Maximum Contribution Limit. You may continue to make contributions to an Account for a Beneficiary so long as the aggregate balance of all 529 Plan accounts for the same Beneficiary under all 529 Plans sponsored by the State of Nevada under the Act does not exceed the Maximum Contribution Limit, which is currently $370,000. Accounts that have reached the Maximum Contribution Limit will continue to accrue earnings, although future contributions may not be made to such Accounts. The Maximum Contribution Limit is based on the aggregate market value of the Account(s) for a Beneficiary and not solely on the aggregate contributions made to the Account(s). If, however, the market value of such Account(s) falls below the Maximum Contribution Limit due to market fluctuations and not as a result of withdrawals from such Account(s), additional contributions may be accepted by the Plan for the Account(s). The Plan may, in its discretion, refuse to accept a contribution upon determination that acceptance of such contribution would not comply with federal or state requirements. The Board is required to set the Maximum Contribution Limit for all accounts for a Beneficiary. The Board expects to evaluate the Maximum Contribution Limit annually but reserves the right to make adjustments to the plan more or less frequently. Information concerning the current Maximum Contribution Limit may be obtained through the Plan. It is possible that federal law might impose different limits on maximum allowable contributions in the future. Excess Contributions The Plan will not accept any contribution to the extent it would cause the Account balance to exceed the Maximum Contribution Limit (“Excess Contributions”). Excess Contributions, all or a portion of, will be rejected and returned to the contributor. If a contribution is applied to an Account and later determined by the Plan to have caused the aggregate market value of the Account(s) for a Beneficiary to exceed the Maximum Contribution Limit, the Plan will refund such Excess Contribution, and any earnings thereon, to the contributor. Any refund of an Excess Contribution may be treated as a non-qualified withdrawal. Contribution Policies and Fees Contributions made by checks, recurring contribution or EFT will not be available for withdrawal for seven
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Maximum Contribution Limit. We may refuse to accept an Additional Contribution on a nondiscriminatory basis if (i) such Contribution would cause the total Contributions to exceed One Million Dollars ($1,000,000) or (ii) the Primary Annuitant’s current age last birthday is within a few years before the Retirement Date.
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Maximum Contribution Limit. The Trustee will set a Maximum Contribution Limit for each Beneficiary. You may not make additional contributions to any account for a Beneficiary when the fair market value of all accounts owned by all account owners within the Trust for that Beneficiary equals the Maximum Contribution Limit. If, however, the fair market value of such account falls below the Maximum Contribution Limit, additional contributions will be accepted. The Trust will inform you of the Maximum Contribution Limit for each year. Currently, the Maximum Contribution Limit is $400,000. The $400,000 per Beneficiary Maximum Contribution Limit applies to all accounts for the same Beneficiary in all plans administered by the Nebraska State Treasurer, including the NEST Advisor Plan, the NEST Direct Plan, the TD Ameritrade 529 College Savings Plan, and the State Farm 529 Savings Plan.
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Maximum Contribution Limit. The limit on contributions made to the Plan as described under Section 5 of the Plan.
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Maximum Contribution Limit. Annual contributions on behalf of a Participant for a taxable year may not exceed the Maximum Contribution Limit.
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Related to Maximum Contribution Limit

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Reallocation to a Class with a Higher Salary Range Maximum Upon appointment to the higher class, the employee’s base salary will be increased to a step of the range for the new class that is nearest to five percent (5.0%) higher than the amount of the pre-promotional step, or to the entry step of the new range, whichever is higher.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Maximum Compensation There is a maximum compensation for this Agreement and a separate maximum compensation for each Approved Service Order.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Maximum Compensatory Time Employees may accumulate no more than one hundred and sixty (160) hours of compensatory time.

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