Traditional IRA Sample Clauses

Traditional IRA. Death Distribution (If not already in a Beneficiary IRA; Must provide a certified copy of the account holder’s Death Certificate)  SEP IRA  Beneficiary IRA (Must complete Designated Beneficiary Election Form) Step 5: PAYMENT METHOD  Mail check to the address currently on file. (Must complete Designated Beneficiary Election Form) Electronically transfer funds by ACH:  Current Banking Instructions on file  New bank instructions. (Complete below section) New Bank Instructions  Checking (Voided Check Required)  Savings (Letter on Bank Letterhead Required) Bank Name Routing ABA Number (9-digits) Bank Account Number Bank Account Registration (Include all registration names) • Only one bank account may be on file. • Signature of bank account owner must be same as XXX xxxxxx. • Temporary and Starter checks are not acceptable. • If voided check is not available, a letter on bank letterhead signed by a branch manager outlining all above information.
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Traditional IRA. Under the 2011 Code, income taxes will be paid with respect to the contributions made by the Customer to the IRA. Pursuant to a ruling issued to the Trust by the Puerto Rico Treasury Department, the interest income generated from such deposits will be tax exempt when distributed to the Customers. The 2011 Code also provides that interest earned on deposits in Puerto Rico banking institutions is eligible for an income tax exclusion, currently of up to $2,000 ($4,000 if married filing jointly). To the extent such interest in any given year exceeds the amount excludable from gross income, the amount in excess may be subject to a tax rate of ten percent (10%) if the taxpayer elects that such interest be subject to withholding at source. Therefore, interest in excess of $2,000 ($4,000 if married filing jointly) generated by IRA, may be subject to a ten percent (10%) tax at the Customer’s election. The Customer also may opt to be taxed at a tax rate of ten percent (10%), to be withheld at source, on such part of the total or partial distribution from his/her IRA that consists of income from sources within Puerto Rico, as such term is defined by the Secretary of Treasury for such purposes. If the distribution is not considered a Qualified Distribution, as explained above, then it will be subject to a 10% penalty imposed by the 2011 Code or 15% in case of having prepaid income taxes. If a Customer is currently receiving retirement benefits from the Commonwealth of Puerto Rico Employee Retirement System or its instrumentalities, the Judiciary Employee Retirement System, or the Teacher’s Retirement System and requests a total or partial distribution from its IRA, he/she may elect to be taxed at a special 10% tax rate, instead of the tax rates described above, on those amounts attributable to nonexempt interest or to appreciation in value on the account The Code provides for various categories of tax-exempt income and income subject to preferential tax rates to be considered for purposes of Alternate Minimum Tax (AMT) for individuals. At present, AMT applies to individual taxpayers with incomes subject to an AMT of $25,000 or more. The AMT top rate is 24% for incomes subject to an AMT in excess of $250,000. These provisions may affect the taxation of taxpayers that receive IRA Distributions that include interests that would be otherwise exempt from regular income tax or subject to preferential tax rates. The Customer should consult a financial and/or legal counselor ...
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Traditional IRA. Death Distribution (If not already in a Beneficiary IRA; Must provide a certified copy of the account holder’s Death Certificate)  SEP IRA  Beneficiary IRA 
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Traditional IRA. Adjusted gross income means the AGI determined for the year during which the rollover is made, but reduced by the taxable amount of an IRA distribution includible in income but only with respect to such amount that was rolled over to a Xxxx XXX. Taxable IRA distributions that are not rolled over to a Xxxx XXX are included in the AGI amount. Qualified rollovers between Xxxx IRAs are permitted regardless of your AGI. Taxation in Rolling Over from Traditional IRA to Xxxx XXX. The amount that would have been included in your income if you had taken a distribution is included in gross income "ratably" over a four-tax-year period beginning with the tax year in which the distribution is made. In order for the taxable amount of an IRA distribution to be included in income ratably over 4 years, such rollover must be made before 1/1/99. Any rollovers from an IRA to a Xxxx XXX after 12/31/98 will be fully includible in income the year in which rolled over. The 10% premature distribution tax shall not apply to the taxable amount of an IRA rolled to a Xxxx XXX. Income tax withholding will apply to the distribution.
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Traditional IRA. By checking this box, I designate my Account as a Traditional IRA under Code Section 408(a). (COMPLETE 1, 2, 3, 4 OR 5 BELOW TO INDICATE THE TYPE OF TRADITIONAL IRA YOU ARE OPENING. CHECK BOX 6, IF APPLICABLE.)
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Traditional IRA. For a Traditional IRA, check the box for Part A of step 2 and check the other boxes in Part A to specify the type of Traditional IRA you are opening and provide the registered information. If this is an IRA to which you expect to make annual contributions each year, check Box 1 and enclose a check in the amount of your first contribution. If you are making an annual contribution between January 1 and April 15, be sure to indicate whether this is a contribution for the prior year or for the current year. If this is a transfer directly from another IRA custodian or trustee, check Box 2. You must also complete and sign the Universal IRA Transfer of Assets Form. If this is a rollover of amounts distributed to you from another IRA or an employer qualified plan or a 403(b) arrangement or an eligible 457 plan, check Box 3. Enclose a check for the rollover contribution amount. If this is a direct rollover from a qualified plan or 403(b) arrangement or eligible 457 plan, check Box 4. Complete and sign the Universal IRA Transfer of Assets Form. Note: If this is a transfer, rollover or direct rollover as described in one of the preceding three paragraphs, and if any after-tax or nondeductible contributions are included in the transfer, rollover or direct rollover, indicate the amount of the after-tax or nondeductible contributions. If this is a “recharacterization” of a Xxxx XXX you established originally by converting from a Traditional (or other) IRA, check Box
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Traditional IRA. All SEP contributions must go to traditional IRAs set up for the eligible employees. A SEP-IRA cannot be a Xxxx XXX or a SIMPLE IRA. Employer contributions to a SEP-IRA will not affect the amount an individual can contribute to a Xxxx XXX. Return to checklist
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Related to Traditional IRA

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Retirement System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Educational Incentive For those employees receiving educational incentive payment at the time of layoff, upon re-employment, such employees shall be eligible to receive educational incentive.

  • Destination CSU-Pueblo scholarship This articulation transfer agreement replaces all previous agreements between CCA and CSU-Pueblo in Bachelor of Science in Physics (Secondary Education Emphasis). This agreement will be reviewed annually and revised (if necessary) as mutually agreed.

  • Educational Benefits a. A full-time employee may enroll for credit at the University for a maximum of two courses, or six credit hours, whichever is greater, in any one academic term with exemption from the payment of tuition and fees.

  • Orientation Program The Company will allow a designated representative of the Local or Bargaining Unit up to one (1) hour per calendar month for the purpose of conducting the Communications, Energy and Paperworkers Union New Members’ Orientation Program. Such meetings will be conducted during the probationary period of employees, and will be held on Company premises. Employees participating in Orientation Program meetings during their normally scheduled working hours will not suffer loss of pay at their regular rate. Orientation Program meetings will be scheduled by Management and a Management representative may attend as an observer.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.

  • Programs to Keep You Healthy Many health problems can be prevented by making positive changes to your lifestyle, including exercising regularly, eating a healthy diet, and not smoking. As a member, you can take advantage of our wellness programs at no additional cost. Wellness Programs We offer wellness programs to our members from time to time. These programs include, but are not limited to: • online and in-person educational programs; • health assessments; • coaching; • biometric screenings, such as cholesterol or body mass index; • discounts We may provide incentives for you to participate in these programs. These incentives may include credits toward premium, and a reduction or waiver of deductible and/or copayments for certain covered healthcare services, as permitted by applicable state and federal law. For the subscriber of the plan, wellness incentives may also include rewards, which may take the form of cash or cash equivalents such as gift cards, discounts, and others. These rewards may be taxable income. Additional information is available on our website. Your participation in a wellness program may make your employer eligible for a group wellness incentive award. Your participation in our wellness programs is voluntary. We reserve the right to end wellness programs at any time. Member Incentives From time to time, we may offer you coupons, discounts, or other incentives as part of our member incentives program. These coupons, discounts and incentives are not benefits and do not change or affect your benefits under this plan. You must be a member to be eligible for member incentives. Restrictions may apply to these incentives, and we reserve the right to change or stop providing member incentives at any time. Care Coordination Care coordination gives you access to dedicated BCBSRI healthcare professionals, including nurses, dietitians, behavioral health providers, and community resources specialists. These care coordinators can help you set and meet your health goals. You can receive support for many health issues, including, but not limited to: • making the most of your physician’s visits; • navigating through the healthcare system; • managing medications or addressing side effects; • better understanding new or pre-existing medical conditions; • completing preventive screenings; • losing weight. Care Coordination is a personalized service that is part of your existing healthcare coverage and is available at no additional cost to you. For more information, please call (000) 000-XXXX (2273) or visit our website. Disease Management If you have a chronic condition such as asthma, coronary heart disease, diabetes, congestive heart failure, and/or chronic obstructive pulmonary disease, we’re here to help. Our tools and information can help you manage your condition and improve your health. You may also be eligible to receive help through our care coordination program. This voluntary program is available at no additional cost you. To learn more about disease management, please call (000) 000-0000 or 0-000-000-0000. About This Agreement Our entire contract with you consists of this agreement and our contract with your employer. Your ID card will identify you as a member when you receive the healthcare services covered under this agreement. By presenting your ID card to receive covered healthcare services, you are agreeing to abide by the rules and obligations of this agreement. Your eligibility for benefits is determined under the provisions of this agreement. Your right to appeal and take action is described in Appeals in Section 5. This agreement describes the benefits, exclusions, conditions and limitations provided under your plan. It shall be construed under and shall be governed by the applicable laws and regulations of the State of Rhode Island and federal law as amended from time to time. It replaces any agreement previously issued to you. If this agreement changes, an amendment or new agreement will be provided.

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