Separate Annuities. Deemed IRAs established pursuant to this paragraph may be held in an annuity contract. Separate annuity contracts must be established for the interest of each Individual to hold Deemed IRA contributions. Such annuity contracts must be held separate from the Employer’s Plan, even if the Employer Qualified Plan also maintains annuity contracts.
Appears in 7 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Savannah Bancorp Inc)
