Common use of When Can I Make Contributions Clause in Contracts

When Can I Make Contributions. You may make regular contributions to your Traditional XXX any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your Traditional XXX up to (but not including) the calendar year in which you reach age 70½. (If you are over age 70½ but your spouse has not yet attained that age, contributions to your spouse’s Traditional XXX may continue so long as you and your spouse, based on a joint tax return, have sufficient compensation income.) If you are currently contributing into your XXX account via a systematic purchase plan, the Custodian will stop the systematic purchase plan in the year in which you turn 70½ to prevent excess contributions. Employer contributions to a Simplified Employee Pension Plan or a SIMPLE Plan may be continued after you attain age 70½. Eligible rollover contributions and transfers may be made at any time, including after you reach age 70½.

When Can I Make Contributions. You may make regular contributions to your Traditional XXX any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your Traditional XXX up to (but not including) the calendar year in which you reach age 70½. (If you are over age 70½ but your spouse has not yet attained that age, contributions to your spouse’s Traditional XXX may continue so long as you and your spouse, based on a joint tax return, have sufficient compensation income.) If you are currently contributing into your XXX account via a systematic purchase plan, the Custodian will stop the systematic purchase plan in the year in which you turn 70½ 70 1/2 to prevent excess contributions. Employer contributions to a Simplified Employee Pension Plan or a SIMPLE Plan may be continued after you attain age 70½. Eligible rollover contributions and transfers may be made at any time, including after you reach age 70½.