Substantially Equal Payments Sample Clauses

The 'Substantially Equal Payments' clause defines a requirement that payments made under an agreement must be of nearly the same amount and made at regular intervals. In practice, this means that a party, such as a borrower or annuitant, will make or receive payments that do not vary significantly in size over the payment period, ensuring predictability and consistency. This clause is often used in financial or retirement arrangements to comply with regulatory requirements or to avoid penalties, and its core function is to provide stability and fairness in the payment schedule, preventing manipulation or uneven distribution of payments.
Substantially Equal Payments. If a taxpayer converts a traditional IRA to a ▇▇▇▇ ▇▇▇ where the traditional IRA was subject to the substantially equal periodic payment exception, the same periodic payments must continue from the ▇▇▇▇ ▇▇▇. However, for 1998 conversions where the taxpayer is using the 4-year spread rule, the payments from the ▇▇▇▇ ▇▇▇ will be subject to the income acceleration rule. Thus, in addition to the normal 1/4th amount, the substantially equal amount is also includible in the participant's gross income for each year until the full taxable conversion has been so included. This rule also applies to 2010 conversions subject to the 2-year income spread. Types of Plans Permitted to be Converted - Traditional regular IRAs, Rollover "conduit" IRAs, and SEP IRAs may be converted to a ▇▇▇▇ ▇▇▇, so long as the taxpayer meets the eligibility requirements until 2010 when the conversion eligibility rules were eliminated. A SIMPLE IRA may also be converted to a ▇▇▇▇ ▇▇▇, but only after such SIMPLE IRA is no longer subject to the 2-year holding period applicable to SIMPLE IRAs. Also, qualified plans, §403(b) plans and governmental §457(b) plans may be converted to a ▇▇▇▇ ▇▇▇. Required Minimum Distributions - Any required minimum amount must first be distributed before any of the remaining amount can be converted to the ▇▇▇▇ ▇▇▇. Taxation of Distributions - "Qualified distributions" are neither subject to Federal income tax nor the 10% additional income tax for premature distributions. Nonqualified distributions are taxable to the extent such distribution is attributable to the income earned in the account. When you start withdrawing from your ▇▇▇▇ ▇▇▇, you may take the distributions in regular payments, random withdrawals or in a single sum payment. Qualified Distributions - A Qualified Distribution is one that is both made:
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Substantially Equal Payments. If a taxpayer converts a traditional IRA to a ▇▇▇▇ ▇▇▇ where the traditional IRA was subject to the substantially equal periodic payment exception, the same periodic payments must continue from the ▇▇▇▇ ▇▇▇. However, for 1998 conversions where the taxpayer is using the 4-year spread rule, the payments from the ▇▇▇▇ ▇▇▇ will be subject to the income acceleration rule. Thus, in addition to the normal 1/4th amount, the substantially equal amount is also includible in the participant's gross income for each year until the full taxable conversion has been so included. This rule also applies to 2010 conversions subject to the 2-year income spread. Types of Plans Permitted to be Converted - Traditional regular IRAs, Rollover "conduit" IRAs, and SEP IRAs may be converted to a ▇▇▇▇ ▇▇▇, so long as the taxpayer meets the eligibility requirements until 2010 when the conversion eligibility rules are eliminated. A SIMPLE IRA may also be converted to a ▇▇▇▇ ▇▇▇, but only after such SIMPLE IRA is no longer subject to the 2-year holding period applicable to SIMPLE IRAs. Also, qualified plans §403(b) plans and governmental Required Minimum Distributions - Any required minimum amount must first be distributed before any of the remaining amounts can be converted to the ▇▇▇▇ ▇▇▇. Taxation of Distributions Qualified Distributions - A Qualified Distribution is one that is both made:
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Substantially Equal Payments. If a taxpayer converts a traditional IRA to a ▇▇▇▇ ▇▇▇ where the traditional IRA was subject to the substantially equal pe- riodic payment exception, the same periodic payments must continue from the ▇▇▇▇ ▇▇▇. However, for 1998 conversions where the taxpayer is using the 4-year spread rule, the payments from the ▇▇▇▇ ▇▇▇ will be subject to the income acceleration rule. Thus, in addition to the normal 1/4 amount, the substantially equal amount is also includible in the participant’s gross income for each year until the full taxable conversion has been so included. This rule also applies to 2010 conversions subject to the 2-year income spread. Types of Plans Permitted to be Converted—Traditional regular IRAs, Rollover “conduit” IRAs, and SEP IRAs may be converted to a ▇▇▇▇ ▇▇▇, so long as the taxpayer meets the eligibility requirements until 2010 when the conversion eligibility rules are eliminated. A SIMPLE IRA may also be
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Related to Substantially Equal Payments

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Medical and Dental Benefits If Executive’s employment is subject to a Termination, then to the extent that Executive or any of Executive’s dependents may be covered under the terms of any medical or dental plans of the Company (or an Affiliate) for active employees immediately prior to the Termination Date, then, provided Executive is eligible for and elects coverage under the health care continuation rules of COBRA, the Company shall provide Executive and those dependents with coverage equivalent to the coverage in effect immediately prior to the Termination. For a period of twelve (12) months (18 months for a Termination during a Covered Period), Executive shall be required to pay the same amount as Executive would pay if Executive continued in employment with the Company during such period and thereafter Executive shall be responsible for the full cost of such continued coverage; provided, however, that such coverage shall be provided only to the extent that it does not result in any additional tax or other penalty being imposed on the Company (or an Affiliate) or violate any nondiscrimination requirements then applicable with respect to the applicable plans. The coverages under this Section 4(e) may be procured directly by the Company (or an Affiliate, if appropriate) apart from, and outside of the terms of the respective plans, provided that Executive and Executive’s dependents comply with all of the terms of the substitute medical or dental plans, and provided, further, that the cost to the Company and its Affiliates shall not exceed the cost for continued COBRA coverage under the Company’s (or an Affiliate’s) plans, as set forth in the immediately preceding sentence. In the event Executive or any of Executive’s dependents is or becomes eligible for coverage under the terms of any other medical and/or dental plan of a subsequent employer with plan benefits that are comparable to Company (or Affiliate) plan benefits, the Company’s and its Affiliates’ obligations under this Section 4(e) shall cease with respect to the eligible Executive and/or dependent. Executive and Executive’s dependents must notify the Company of any subsequent employment and provide information regarding medical and/or dental coverage available.

  • Annual Payments The Settling Distributors shall make eighteen (18) Annual Payments, each comprised of base and incentive payments as provided in this Section IV, as well as fifty percent (50%) of the amount of any Settlement Fund Administrator costs and fees that exceed the available interest accrued in the Settlement Fund as provided in Section V.C.5, and as determined by the Settlement Fund Administrator as set forth in this Agreement. 1. All data relevant to the determination of the Annual Payment and allocations to Settling States and their Participating Subdivisions listed on Exhibit G shall be submitted to the Settlement Fund Administrator no later than sixty (60) calendar days prior to the Payment Date for each Annual Payment. The Settlement Fund Administrator shall then determine the Annual Payment, the amount to be paid to each Settling State and its Participating Subdivisions included on Exhibit G, and the amount of any Settlement Fund Administrator costs and fees, all consistent with the provisions in Exhibit L, by: a. determining, for each Settling State, the amount of base and incentive payments to which the State is entitled by applying the criteria under Section IV.D, Section IV.

  • Lump Sum Payment If an individual JOC Task Order is scheduled for Completion within forty-five (45) days or less, the County will make one payment after thirty (30) days of Work to the Contractor, exclusive of retention. Contractor may request for one payment (including retention payment); however, payment will be made after Final Acceptance of the JOC Task Order.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.