SIMPLE IRA Clause Samples

The SIMPLE IRA clause establishes the terms under which an employer offers a Savings Incentive Match Plan for Employees Individual Retirement Account (SIMPLE IRA) to eligible employees. It typically outlines eligibility requirements, employer and employee contribution limits, and the process for making contributions to the retirement accounts. For example, it may specify that employees who have earned a certain amount in the previous year are eligible to participate, and detail how matching or non-elective contributions are calculated. The core function of this clause is to ensure both employer and employee understand their rights and obligations regarding retirement savings, promoting compliance with tax laws and facilitating employee retirement planning.
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SIMPLE IRA. The Company offers a voluntary pre-tax salary reduction plan wi▇▇ a three percent (3%) employer match in which eligible employees may elect to participate on the first day of the month following 90 days of continuous employment. Eligible employees will have 30 days in which to sign up for participation once the enrollment criterion of 90 days of continuous employment has been met, subject to plan restrictions. Employees' pre-tax plan contribution amounts are limited to $6,000.00 annually. Federal guidelines and regulations governing Simple Retirement Account (SRA) programs determine maximum annual contribution amounts.
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SIMPLE IRA. Attach copy of ▇▇▇▇▇▇▇▇’s executed IRS Form 5304-SIMPLE or original IRS Form 5305-SIMPLE (▇. ▇▇▇▇ Price will sign and return a copy). 🞏 403(b)(7), Individual 401(k), SEP-IRA, SIMPLE IRA. Provide the Plan ID below. Updates will be made according to any completed sections on this form. Employer (Plan Sponsor) Name Street or Mailing Address City State ZIP Code Tax Identification Number (TIN) ▇. ▇▇▇▇ Price Plan ID (existing plans only) Plan Contact Name Phone Fax E-mail Address PSW is a secure website that enables Plan Sponsors to perform certain Plan administrative functions, including new participant account setup, updating participant status, participant account maintenance, Plan contribution processing, and Confirmation of Plan Contribution Report and other report downloads. ▇. ▇▇▇▇ Price will establish PSW access and provide Plan Sponsor a unique operator ID and temporary password by mail. Plan Sponsor agrees to accept responsibility for protecting the confidentiality of the login information. ▇. ▇▇▇▇ Price will provide certain online services via PSW for use by Plan Sponsor in its administration of the Plan identified in Section 1. Plan Sponsor is responsible for procur- ing and operating all hardware and software to be compatible with the online services. Plan Sponsor agrees to establish participant accounts and maintain participant account information (including employment status) on PSW. Plan Sponsor is responsible for permanent retention of all Employer Sponsored Retirement Plan Participant Account forms, reviewing and verifying the accuracy of all information it (or its agent) enters directly into PSW and for promptly notifying ▇. ▇▇▇▇ Price of any resulting errors, omissions, or inaccuracies. The default fund will be used if a Plan participant fails to select a ▇. ▇▇▇▇ Price mutual fund for contributions. Plan Sponsors may wish to consider how the default investment decision may affect their status with respect to certain regulatory requirements. ▇. ▇▇▇▇ Price Fund: Access to PSW (▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇) WILL NOT be granted to any party other than the Plan Contact identified in Section 1 unless the information is completed below. By completing the information requested below and signing in Section 6, Plan Sponsor authorizes and directs ▇. ▇▇▇▇ Price to provide unique login information to the designated individual as Plan Sponsor’s agent (Agent) in order to permit Agent separate access to the information and functionality that is available on PSW. In di...
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SIMPLE IRA. A SIMPLE IRA is an individual retirement account described in section 408(a), or an individual retirement annuity described in section 408(b), to which the only contributions that can be made are contributions under a SIMPLE IRA plan and rollovers or transfers from another SIMPLE IRA.
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SIMPLE IRA to-Traditional IRA Rollovers. Assets distributed from your SIMPLE IRA may be rolled over to your Traditional IRA without IRS penalty tax provided two years have passed since you first participated in a SIMPLE IRA plan sponsored by your employer. As with Traditional IRA-to-Traditional IRA rollovers, the requirements of IRC Sec. 408(d)(3) must be met. A proper SIMPLE IRA-to-IRA rollover is completed if all or part of the distribution is rolled over not later than 60 days after the distribution is received.
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SIMPLE IRA. If your employer mistakenly contributes too much to your SIMPLE IRA means any individual (other than your spouse’s child) who has not Income Tax Withholding – Any withdrawal from your SIMPLE IRA is Rollovers and Conversions – Your SIMPLE IRA may be rolled over to is applied to your withdrawal, not less than 10 percent of the amount withdrawn must be withheld. converted to a ▇▇▇▇ ▇▇▇, provided that all of the applicable rollover and conversion rules are followed. Rollover is a term used to describe a movement of cash or other property to your SIMPLE IRA from another and roll over the full amount distributed from your employer­ penalty tax. Conversion is a term used to describe the movement of
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SIMPLE IRA. No contributions will be accepted under a SIMPLE IRA plan established by any employer pursuant to Code Section 408(p). Also, no transfer or rollover of funds attributable to contributions made by a particular employer under its SIMPLE IRA plan will be accepted from a SIMPLE IRA, that is, an IRA used in conjunction with a SIMPLE IRA plan, prior to the expiration of the two-year period beginning on the date the employee first participated in that employer’s SIMPLE IRA plan.
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SIMPLE IRA. The Publisher's Simple IRA Plan is available to any Employee who wishes to enroll and who is expected to earn $5000 during a calendar year of employment. The Simple IRA Plan is a tax-deferred retirement plan which allows Employees to defer compensation via pre-tax salary reduction for their retirement. Employee contributions are subject to Social Security, Medicare, and federal unemployment taxes. The Publisher will match any Employee contribution up to 3% of their pre-tax salary up to the federal limit. Employee contributions to the Simple IRA are made with each bi-weekly pay period. Publisher's matching contributions shall normally be made bi-weekly, but not later than each fiscal quarter. An Employee may change the amount of contribution at any time by written request to take effect with the next full pay period or as soon as practicable thereafter.
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SIMPLE IRA. Transfer of Assets Form
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Related to SIMPLE IRA

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • What Forms of Distribution Are Available from a ▇▇▇▇▇▇▇▇▇ Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Qualified Reservist Distributions If you are a qualified reservist member called to active duty for more than 179 days or an indefinite period, the payments you take from your IRA during the active duty period are not subject to the 10 percent early distribution penalty tax.

  • Distributions, Etc a. Following receipt by the Down REIT Sub of written notice (which notice shall specifically reference this Section 5 of this Agreement) from Lender that a Default has occurred and is continuing (a “Default Notice”): (i) upon the written instruction of Lender and until instructions to the contrary are received from Lender, the Down REIT Sub shall remit to Lender all cash distributions otherwise payable to Pledgor in respect of the Pledged Units, and HCPI shall remit to Lender all cash dividends otherwise payable to Pledgor in respect of the Pledged Shares, of any nature, and (ii) upon the written instruction of Lender and until instructions to the contrary are received from Lender, all rights of Pledgor to exercise the voting or other consensual rights that Pledgor would otherwise be entitled to exercise in respect of the Collateral shall cease, and all such rights (and any other rights Pledgor may have in respect of the Collateral) shall thereupon become vested in Lender, which shall have the sole right to exercise such rights, until further notice from Lender. With respect to cash distributions payable during such time as no event of Default is occurring, each Pledgor hereby directs the Down REIT Sub and/or HCPI, as the case may be, and the Down REIT Sub and/or HCPI, as the case may be, agrees to deposit any and all such dividends and distributions in the following account as set forth in Section 3.1. of the Loan Agreement: 43JO7293. Any amounts paid to the Lender or its designee as contemplated by the terms of the foregoing shall be treated as amounts paid or distributed to Pledgor for all purposes of the LLC Agreement, or other agreement pursuant to which the payment or distribution is made or is required to be made and shall be deemed to satisfy the obligations of the Down REIT Sub or HCPI to make such payment thereunder. Each Pledgor hereby agrees that neither the Down REIT Sub nor HCPI shall be deemed to be in breach of its obligations under, or in violation of the provisions of, any such agreement by virtue of having made such payments in the foregoing manner. b. From and after the date of this Agreement, and whether or not a Default has occurred and is continuing, if Pledgor shall become entitled to receive, in connection with any of the Collateral, any: i. LLC Units or stock certificates (including, without limitation, stock certificates relating to the Pledged Shares), including, without limitation, any certificates (1) issued in respect of additional properties contributed by such Pledgor to the Down REIT Sub, or (2) representing a dividend or distribution or issued in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares or partnership units, stock or partnership units split, spin-off, or split-off; ii. Options, warrants, rights or other securities or instruments, whether as an addition to, or in substitution or in exchange for, any of the Collateral, or otherwise; iii. Dividends or distributions payable in property other than cash, including securities issued by other than the issuer of any of the Collateral; or iv. Any sums paid in redemption of any of the Collateral, then HCPI shall deliver the same to Lender, to be held by Lender as part of the Collateral. Any amounts paid to the Lender or its designee as contemplated by the terms of the foregoing shall be treated as amounts paid or distributed to Pledgor for all purposes of the LLC Agreement, or other agreement pursuant to which the payment or distribution is made or is required to be made and shall be deemed to satisfy the obligations of the Down REIT Sub or HCPI to make such payment thereunder. Each Pledgor hereby agrees that neither the Down REIT Sub nor HCPI shall be deemed to be in breach of its obligations under, or in violation of the provisions of, any such agreement by virtue of having made such payments in the foregoing manner.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement: