Rollover Contributions Sample Clauses

Rollover Contributions. A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

Rollover Contributions. A Participant while an Employee may contribute to the Plan money that qualifies for such a rollover under the provisions of sections 402(c)(5) or 403(a)(4) or (5) of the Code or that qualifies as a rollover contribution under section 408(d)(3) of the Code; provided however, no amounts constituting accumulated deductible employee contributions, as defined in section 72(o)(5) of the Code, may be so contributed. Effective May 1, 2004, the Plan will accept rollovers in any amount. Any rollover contribution shall be credited to such Participant’s Rollover Account as of the Accounting Date coinciding with or next following the Trustee’s receipt thereof. The Plan will accept Participant rollover contributions and/or direct rollovers of distributions made after June 30, 2002, from (a) a qualified plan described in sections 401(a) or 403(a) of the Code, excluding after-tax employee contributions; (b) an annuity contract described in section 403(b) of the Code, excluding after-tax employee contributions; and (c) an eligible plan under section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state. The Plan will not accept a Participant rollover contribution of the portion of a distribution from an individual retirement account or annuity described in sections 408(a) or 408(b) of the Code that is eligible to be rolled over and would otherwise be includible in gross income (including an after-tax contribution). If any amount received as a rollover contribution is determined not to qualify for a rollover, then such amount (adjusted for any gain or loss) shall be returned to the Participant as soon as practical.

Rollover Contributions. The Custodian will accept for the Depositor’s Custodial Account in a form and manner acceptable to the Custodian, all rollover contributions, from other Xxxx IRAs which consist of cash, and it may, but shall be under no obligation to accept all or any part of any other property permitted as an investment under Code Section 408A. Rollover contributions to a Xxxx XXX cannot be made from employer sponsored tax qualified plans. The Depositor (or the Depositor’s Authorized Agent) shall designate each Xxxx XXX rollover contribution as such to the Custodian, and by such designation shall confirm to the Custodian that a proposed Xxxx XXX rollover contribution qualifies as a rollover contribution within the meaning of Section 408A(c)(3)(B), 408A(c)(6) and 408A(e) of the Code. The Depositor (or the Depositor’s Authorized Agent) shall provide any information the Custodian may require to properly allocate Xxxx XXX rollover contributions to the Depositor’s Account(s). Submission by or on behalf of a Depositor of a rollover contribution consisting of assets other than cash or property permitted as an investment under this Article IX shall be deemed to be the instruction of the Depositor to the Custodian that, if such rollover contribution is accepted, the Custodian will use its best efforts to sell those assets for the Depositor’s Account, and to invest the proceeds of any such sale in accordance with Section 3. The Custodian shall not be liable to anyone for any loss resulting from such sale or delay in effecting such sale; or for any loss of income or appreciation with respect to the proceeds thereof after such sale and prior to investment pursuant to Section 3; or for any failure to effect such sale if such property proves not readily marketable in the ordinary course of business. All brokerage and other costs incidental to the sale or attempted sale of such property will be charged to the Custodial Account in accordance with Article IX, Section 19. In the case of a distribution from a Xxxx XXX, such distribution qualifies as a rollover contribution provided it is deposited timely to another Xxxx XXX and otherwise satisfies the requirements of Section 408(d)(3) of the Code for a rollover contribution. For purposes of the Five Year Period as defined in Article IX, Section 12 below, a Xxxx XXX established with a rollover contribution will be deemed to be established on January 1 of the year in which such rollover contribution is credited by the Custodian to the Deposit...

Rollover Contributions. With our consent, a Rollover Contribution may be made by or for an Eligible Employee if the following conditions are met: (a) The Contribution is a rollover contribution which the Code permits to be transferred to a plan that meets the requirements of Code Section 401(a). (b) It the Contribution is made by the Eligible Employee, it is made within sixty days after he receives the distribution. (c) The Eligible Employee furnishes evidence satisfactory to the Plan Administrator that the proposed transfer is in fact a rollover contribution which meets conditions (a) and (b) above. The Rollover Contribution may be made by the Eligible Employee or the Eligible Employee may direct the trustee or named fiduciary of another plan to transfer the funds which would otherwise be a Rollover Contribution directly to this Plan. Such transferred funds shall be called a Rollover Contribution. The Contribution shall be made according to procedures set up by the Plan Administrator. If an Eligible Employee participated in a retirement plan which met the requirements of Code Section 401(a), with our consent, the trustee or named fiduciary of that plan may transfer funds which could not have been a Rollover Contribution to this Plan on behalf of the Eligible Employee. The transferred funds shall be called a Rollover Contribution. If such Rollover Contributions were made for a period when the Eligible Employee was a five-percent owner of the employer that maintained the plan, the Rollover Contributions shall be treated in the same manner as if they were Contributions made under this Plan for a period when he was a five-percent owner of us. If the Eligible Employee is not an Active Member when the Rollover Contribution is made, he shall be deemed to be an Active Member only for the purpose of investment and distribution of the Rollover Contribution. Our Contributions shall not be made for or allocated to the Eligible Employee and he may not make Member Contributions, until the time he meets all of the requirements to become an Active Member. Rollover Contributions made by or for an Eligible Employee shall be credited to his Account. The part of the Member's Account resulting from Rollover Contributions is fully (100%) vested and nonforfeitable at all times. A separate accounting record shall be maintained for that part of his Rollover Contribution consisting of voluntary contributions which were deducted from the Member's gross income for Federal income tax purposes. Prior Plan As...

Rollover Contributions. (i) If directed by the Depositor, the Custodian shall open and maintain a separate Account for each rollover contribution described in Section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16) of the Code, or any other applicable section of the Code. (ii) If a Depositor desires to roll over or transfer assets other than cash to his or her XXX, the Custodian shall accept such assets only if they are compatible with the Custodian’s administrative or operational requirements and regular business practices. Unless otherwise directed by the Participant, any rollover contribution made by a Participant may be combined with any other of the Participant’s Accounts and further contributions may be made to that Account.

Rollover Contributions. Generally, a rollover is a movement of cash or assets from one retirement plan to another. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. Xxxx XXX-to-Xxxx XXX Rollover. You may withdraw, tax free, all or a portion of your Xxxx XXX if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Xxxx XXX as a rollover. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. Amounts withdrawn (including any amounts withheld for federal, state, or other income taxes that you did not receive) that are not rolled over will be treated as a distribution from the Xxxx XXX and may be subject to tax and/or early distribution penalty. Employer Retirement Plan-to-Xxxx XXX Rollover (by Xxxx XXX Owner). Eligible rollover distributions consisting of Xxxx 401(k), Xxxx 403(b), or Xxxx 457(b) assets may be rolled over, directly or indirectly, to your Xxxx XXX. You are solely responsible for tracking the taxable and nontaxable amounts of the assets rolled over. If you roll over a nonqualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b) to a Xxxx XXX, the portion of the distribution that constitutes the contribution basis is treated as basis in your Xxxx XXX. If you roll over a qualified distribution from a Xxxx 401(k), Xxxx 403(b) or Xxxx 457(b), the entire amount of the rollover contribution is considered basis in the Xxxx XXX. Employer Retirement Plan-to-Xxxx XXX Rollover (by Inherited Xxxx XXX Owner). Please refer to the section of this document entitled “Inherited Xxxx XXX”. Xxxx XXX-to-Employer Plan Rollovers Not Permitted. Distributions from your Xxxx XXX are not eligible for rollover to a designated Xxxx account in a Xxxx 401(k) plan, Xxxx 403(b) plan, or Xxxx 457(b) plan. Conversions to Xxxx IRAs. Generally, you may convert all or a portion of your Traditional IRA (or SIMPLE IRA) to a Xxxx XXX provided you meet any applicable eligibility requirements as defined in the Code and Regulations. To complete a conversion of a SIMPLE IRA distribution to a Xxxx XXX, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA P...

Rollover Contributions. Unless elected otherwise in the Adoption Agreement, a Participant/Employee may make a Rollover Contribution to a Defined Contribution Plan established hereunder of all or any part of an amount distributed or distributable to him or her from a Qualified Plan or an individual retirement account (IRA) qualified under Code Section 408 where the IRA was used as a conduit from a Qualified Plan provided: (a) the amount distributed to the Participant/Employee is deposited to the Plan no later than the sixtieth day after such distribution was received by the Participant/Employee, (b) the amount distributed is not one of a series of substantially equal periodic payments made for the life (or life expectancy) of the Participant/Employee or the joint lives (or joint life expectancies) of the Participant/Employee and the Participant's/Employee’s Beneficiary, or for a specified period of ten (10) years or more, (c) the amount distributed is not a required minimum distribution under Code Section 401(a)(9), (d) if the amount distributed included property, such property is rolled over only upon the Trustee, Custodian and/or Employer’s approval, or if sold, the proceeds of such property may be rolled over, (e) the amount distributed would otherwise be includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to Employer securities), and

Rollover Contributions. In addition to any annual contributions referred to in Paragraph (i) above, but subject to this Paragraph (ii), the Depositor may contribute to the account, at any time, a rollover contribution of such cash or other property as shall constitute a rollover amount or contribution under section 402(a)(5), 402(a)(7), 403(a)(4), 403(b)(8) or 408(d)(3) of the Code. The Custodian will accept for the account all rollover contributions which consist of cash, and it may, but shall be under no obligation to, accept any other rollover contribution. In the case of rollover contributions composed of assets other than cash, the prospective Depositor shall provide the Custodian with a description of such assets and such other information as the Custodian may reasonably require. The Custodian may accept all or any part of such a rollover contribution if it determines that the assets of which such contribution consists are either in a medium proper for investment hereunder or that the assets can be promptly liquidated for cash. The Depositor warrants that any rollover contribution to the account consists of cash, the same property received in the distribution or, in the case of amounts distributed to the Depositor from a qualified employer's plan or annuity, the proceeds from the sale of the same property received in the distribution. The Depositor also warrants that in the case of a rollover into the account of amounts distributed to the Depositor from a qualified employer's plan or annuity, only amounts in excess of the amounts considered to be the Depositor's employee contributions included in such distribution constitute the contribution to this account. Additionally, the Depositor affirms that the contribution to the account does not consist of amounts received from an inherited individual retirement account or annuity. An individual retirement account or annuity shall be treated as inherited if it was acquired by reason of the death of an individual other than the Depositor's spouse. The Depositor also affirms that in the case of a rollover into the account of amounts distributed from an individual retirement account or annuity or retirement bond, he has not during the one year period ending on the date of the distribution received any other distribution from an individual retirement account or annuity or retirement bond which constituted a rollover contribution (as described in section 408(d)(3) of the Code).

Rollover Contributions. If so indicated in the Adoption Agreement, an Employee may contribute a rollover contribution to the Plan. The Plan Administrator may require the Employee to submit a written certification that the contribution qualifies as a rollover contribution under the applicable provisions of the Code. If it is later determined that all or part of a rollover contribution was ineligible to be rolled into the Plan, the Plan Administrator shall direct that any ineligible amounts, plus earnings attributable thereto, be distributed from the Plan to the Employee as soon as administratively feasible. A separate account shall be maintained by the Plan Administrator for each Employee's rollover contributions which will be nonforfeitable at all times. Such account will share in the income and gains and losses of the Fund in the manner described in Section 4.03 and shall be subject to the Plan's provisions governing distributions. The Employer may, in a uniform and nondiscriminatory manner, only allow Employees who have become Participants in the Plan to make rollover contributions.