Common use of Rollovers and Conversions Clause in Contracts

Rollovers and Conversions. The balance in your ▇▇▇ may be rolled over to another ▇▇▇, or your ▇▇▇ may receive rollover contributions from any of your other IRAs or from your employer’s qualified retirement plan, tax-sheltered annuity, or Section 457(b) deferred compensation plan (beginning January 1, 2002), provided that all of the applicable rollover rules are followed. “Rollover” is a term used to describe a tax-free movement of cash or other property to your ▇▇▇ from any of your IRAs or eligible retirement plans. Funds in a SIMPLE ▇▇▇ may not be rolled to your ▇▇▇ during the first two years you participate in your employer’s SIMPLE ▇▇▇ plan. Your ▇▇▇ may also be converted to a ▇▇▇▇ ▇▇▇ if certain eligibility requirements are met. The rollover and conversion rules are generally summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a tax professional.

Rollovers and Conversions. The balance in your ▇▇▇ IRA may be rolled over to another ▇▇▇IRA, or your ▇▇▇ IRA may receive rollover contributions from any of your other IRAs or from your employer’s qualified retirement plan, tax-sheltered annuity, or Section 457(b) deferred compensation plan (beginning January 1, 2002), provided that all of the applicable rollover rules are followed. “Rollover” is a term used to describe a tax-free movement of cash or other property to your ▇▇▇ IRA from any of your IRAs or eligible retirement plans. Funds in a SIMPLE ▇▇▇ IRA may not be rolled to your ▇▇▇ IRA during the first two years you participate in your employer’s SIMPLE ▇▇▇ IRA plan. Your ▇▇▇ IRA may also be converted to a ▇▇▇▇ ▇▇▇ if certain eligibility requirements are met. The rollover and conversion rules are generally summarized below. These transactions are often complex. If you have any questions regarding a rollover or conversion, please see a tax professional.