Deemed Traditional IRA definition

Deemed Traditional IRA means an individual retirement account described in Code § 408 maintained under the Plan on behalf of a Participant or Beneficiary.
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Deemed Traditional IRA means an individual retirement account described in IRC 408 maintained by the System on behalf of a participant or beneficiary.
Sample 1Sample 2

Examples of Deemed Traditional IRA in a sentence

  • The Deemed IRA Trustee of a Deemed Traditional IRA shall furnish annual calendar-year reports concerning the status of the Deemed IRA account and such information concerning required minimum distributions as is prescribed by the Commissioner of Internal Revenue.

  • The interest of a Member in the balance in his or her Deemed Traditional IRA Account is nonforfeitable at all times.

  • If the Member dies before distributions of his or her Deemed IRA Traditional Account begins and the Member has no Designated Beneficiary, the Member's Deemed Traditional IRA Account shall be distributed by December 31 of the calendar year containing the fifth (5th) anniversary of the Member's death.

  • The Deemed Traditional IRA Accounts are established for the exclusive benefit of the Member or his or her Beneficiaries.

  • Notwithstanding any other sections which may be added or incorporated, the provisions of this Section 9.08 shall be controlling with respect to each Deemed Traditional IRA created under the Plan.

  • If the Member dies after distribution of his or her Deemed Traditional IRA Account begins and the Member has no Designated Beneficiary, any remaining portion of the Deemed Traditional IRA Account shall continue to be distributed at least as rapidly as under the method of distribution in effect at the time of the Member's death.

  • This election will be deemed to have been made if such Spouse makes a contribution to the Deemed Traditional IRA or fails to take required distributions as a Beneficiary.

  • No part of the Deemed IRA Trust funds attributable to a Deemed Traditional IRA shall be invested in collectibles within the meaning of Code Section 408(m), except as otherwise permitted by Code Section 408(m)(3), which provides an exception for certain gold, silver, and platinum coins issued under the laws of any state, and certain bullion.

  • To the extent permitted under Code Section 408(q) and the regulations thereunder, if the sole designated Beneficiary is the individual's surviving Spouse, the Spouse may elect to treat the Deemed Traditional IRA as his or her own IRA.

  • The Deemed IRA Trustee, or its delegate, shall furnish annual calendar year reports concerning the status of the Deemed Traditional IRA Account and such information concerning required minimum distributions as is prescribed by the Commissioner of Internal Revenue.

Related to Deemed Traditional IRA

  • Traditional IRA Means an individual retirement account as defined in Code Section 408(a).

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Service-disabled veteran-owned business means a service-disabled veteran-owned business located in the State of Tennessee that satisfies the criteria in Tenn. Code. Ann. § 12-3-1102(8). "Service-disabled veteran" means any person who served honorably in active duty in the armed forces of the United States with at least a twenty percent (20%) disability that is service-connected, i.e., the disability was incurred or aggravated in the line of duty in the active military, naval or air service.

  • Public employees retirement system means the retirement plan and program

  • Date of Service means the date on which the client receives medical services or items, unless otherwise specified in the appropriate provider rules. For items that are mailed or shipped by the provider, the date of service is the date on which the order was received, the date on which the item was fabricated, or the date on which the item was mailed or shipped.

  • Specific learning disability (SLD) means a heterogeneous group of conditions wherein there is a deficit in processing language, spoken or written, that may manifest itself as a difficulty to comprehend, speak, read, write, spell, or to do mathematical calculations and includes such conditions as perceptual disabilities, dyslexia, dysgraphia, dyscalculia, dyspraxia and developmental aphasia.

  • Traditional means that the traditional knowledge or cultural expressions are developed according to the rules, protocols and customs of a certain community, and not that they are old. In other words, the adjective “traditional” qualifies the method of creating traditional knowledge or cultural expressions and not the knowledge or expressions themselves.152 The term “traditional” means that the knowledge or cultural expressions derive from or are based upon tradition, identify or are associated with an indigenous or traditional people, and may be practiced in traditional ways.153 “Traditional context” refers to the way of using traditional knowledge or traditional cultural expressions in their proper artistic framework based on continuous usage by the community. An example could be the use of a ritual dance in its traditional context, as referring to the performance of the said dance in the actual framework of the rite.154

  • Material Change in Formula means the occurrence since the Launch Date of a material change in the formula for, or the method of, calculating the Reference Price.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Separation from Service or “Separates from Service” means a “separation from service” within the meaning of Section 409A of the Code.

  • Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit (determined as of the close of the relevant Plan Year) of the Participant under all Defined Benefit Plans maintained by one or more Related Companies, and the denominator of which is the lesser of (a) the product of 1.25 multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the Code for the Plan Year, or (b) the product of 1.4 multiplied by the amount which may be taken into account under Section 415(b)(1)(B) of the Code with respect to the Participant for the Plan Year.

  • Severance from Service Date means the earlier of:

  • Qualified employment position means a permanent full-time

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Qualifying job means a permanent full-time job that:

  • DoD recognized unique identification equivalent means a unique identification method that is in commercial use and has been recognized by DoD. All DoD recognized unique identification equivalents are listed at http://www.acq.osd.mil/dpap/pdi/uid/iuid_equivalents.html.

  • Level of service has the meaning set forth in Section 2.02(c).

  • Historically Disadvantaged Individual (HDI) means a South African citizen -

  • specific learning disabilities means a heterogeneous group of conditions wherein there is a deficit in processing language, spoken or written, that may manifest itself as a difficulty to comprehend, speak, read, write, spell, or to do mathematical calculations and includes such conditions as perceptual disabilities, dyslexia, dysgraphia, dyscalculia, dyspraxia and developmental aphasia;

  • Defined Benefit Fraction means a fraction, the numerator of which is the sum of the Participant's Projected Annual Benefit under all the defined benefit plans (whether or not terminated) maintained by the Employer, and the denominator of which is the lesser of 125 percent of the dollar limitation determined for the Limitation Year under Code ss.ss.415(b) and (d) or 140 percent of the Participant's Highest Average Compensation, including any adjustments under Code ss.415(b). Notwithstanding the above, if the Participant was a Participant as of the first day of the first Limitation Year beginning after December 31, 1986, in one or more Defined Benefit Plans maintained by the Employer which were in existence on May 6, 1986, the denominator of this fraction shall not be less than 125 percent of the sum of the annual benefits under such plans which the Participant had accrued as of the close of the last Limitation Year beginning before January 1, 1987, disregarding any changes in the terms and conditions of the plans after May 5, 1986. The preceding sentence applies only if the Defined Benefit Plans individually and in the aggregate satisfied the requirements of Code ss.415 for all Limitation Years beginning before January 1, 1987.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Administrator/Benchmark Event Date means, in respect of an Administrator/Benchmark Event, the date on which the authorisation, registration, recognition, endorsement, equivalence decision, approval or inclusion in any official register is (i) required under any applicable law or regulation; or

  • Administrator/Benchmark Event means, in relation to any Benchmark, the occurrence of a Benchmark Modification or Cessation Event, a Non-Approval Event, a Rejection Event or a Suspension/Withdrawal Event all as determined by the Issuer.

  • Looked after means all those currently in the care of a Local Authority or accommodated by a Local Authority under the terms of the Children Act 1989 and children who were previously in the care of or accommodated by a Local Authority but immediately after being looked after, became subject to an adoption, a child arrangements order or special guardianship order.

  • Supervisory employee means an employee, regardless of job description, having authority in the interest of the employer to hire, transfer, suspend, lay off, recall, promote, discharge, assign, reward, or discipline other employees, or the responsibility to assign work to and direct them, or to adjust their grievances, or effectively recommend that action, if, in connection with the foregoing functions, the exercise of that authority is not of a merely routine or clerical nature, but requires the use of independent judgment.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;