Maximum Annual Contribution definition

Maximum Annual Contribution. Contract Charge: Administration Charge: Contract Anniversary: Book Value Transfer Limit: Book Value Limit for Third Party Asset Manager Exchanges: Companion Investment Option(s): SAMPLE Competing Fixed Restriction Period: Expense Credit Percentage: Initial Interest Guarantee: Period Rate Market Value Adjustment Factor: Percentage Reduction in Number of Participants as defined in Section 1.31: Processing Transfers: SAMPLE Termination Fee:

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Maximum Annual Contribution. All of the employee and County contributions set forth in Subsection A will be added together to ensure that the annual maximum contribution to the employee’s deferred compensation account does not exceed the annual maximum contribution rate set forth in the United States Internal Revenue Code.

Maximum Annual Contribution. Individual = [$3,400] Family = [$6,750] [2018] Maximum Annual Contribution: Individual = [$3,450] Family = [$6,900] For additional information on what may affect your annual allowable contribution(s), please visit ▇▇▇.▇▇▇▇▇.▇▇▇. Account owners age 55+ may make an additional contribution of $1,000/year.

Examples of Maximum Annual Contribution in a sentence

• Unless otherwise agreed to in writing by Nationwide, the Maximum Annual Contribution, which may be made during a Contract Year, shall not exceed the amount set forth on the Contract Specifications Page.

• The Trustee is not permitted to accept contributions in excess of the Maximum Annual Contribution amount for any Tax Year unless it is a Rollover Contribution [as permitted by Code Sections 402(c) and 403(a)(4)].

• If the Individual is eligible, any annual contribution the Individual makes that exceeds the Individual’s Maximum Annual Contribution will be treated as a Catch-Up Contribution (up to the limits described above) unless the Individual elects to treat such amounts as an Excess Contribution described in paragraph 18.8 below.

• The Plan shall be interpreted to deem any Individual’s contribution that exceeds the Maximum Annual Contribution as defined in paragraph 18.2 but not an amount greater than the Applicable Amount to be a Catch-Up Contribution unless the Individual elects to treat such amount as an Excess Contribution described in paragraph 18.8.

• The District Maximum Annual Contribution shall annually increase or decrease as set forth below depending upon the premium cost of the Benchmarked Plan.

• With respect to Traditional IRA Contributions made by or on behalf of an Individual for a taxable year, Maximum Annual Contribution shall mean an amount that does not exceed the lesser of the deductible amount described in Code Section 219(b)(5)(A) reduced by the amount of any contributions made by or on behalf of the Individual to another Traditional IRA or to a ▇▇▇▇ ▇▇▇ for the same Taxable Year.

• Any sums in excess of the District Maximum Annual Contribution shall be paid by the unit member through 10- month payroll deduction (Member Annual Contribution).

• Except in the case of a Rollover Contribution [as permitted by Code Sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3) and 457(e)(16)(A)(i)], the total of such contributions shall not exceed the Maximum Annual Contribution amount for each year listed below: For years after 2008, the $5,000 limit is subject to cost-of-living adjustments (“COLAs”) under Code Section 219(b)(5)(c).

• These subsequent-year contributions shall be proportional to such members’ first year contributions to the Partnership Fund, provided, however, in no case shall any such requested annual contribution exceed the amount of such member’s Maximum Annual Contribution.

• Any sums in excess of the District Maximum Annual Contribution shall be paid, in advance, by the employee through monthly payroll deductions.

More Definitions of Maximum Annual Contribution

Maximum Annual Contribution means, with respect to Traditional IRA Contributions made by or on behalf of an Individual for a taxable year, an amount that does not exceed the lesser of (a) the deductible amount described in Code Section 219(b)(5)(A) or (b) 100% of the Individual’s Compensation reduced by (c) the amount of any contributions made by or on behalf of the Individual to another Traditional IRA or to a ▇▇▇▇ ▇▇▇ for the same taxable year.

Maximum Annual Contribution means initially an amount of $20,000 CDN and, thereafter such other amount as determined by the Administrator at the beginning of each Plan Year; such Maximum Annual Contribution shall be converted into the currency that the Employee receives his or her compensation in, by the Administrator, based on the applicable exchange rate as quoted by the Bank of Canada noon rate at the beginning of each Plan Year;

Maximum Annual Contribution. Contract Charge: Administration Charge: Contract Anniversary: Book Value Transfer Limit: Book Value Limit for Third Party Asset Manager Exchanges: Companion Investment Option(s): SAMPLE Competing Fixed Restriction Period: Expense Credit Percentage: Initial Interest Guarantee: Period Rate Market Value Adjustment Factor: 1 +5x(A-B+C), where A is the highest credited rate from 30 days prior to the transaction until the end of the interest guarantee period. For purposes of this calculation, B is the Barclay Capital Baa component of the U.S. Credit index. If these yields are no longer published by ▇▇▇▇▇▇▇’▇ or a successor organization or if the method of calculation of the index is changed, an equivalent index will be chosen. For purposes of this calculation, C is the cost of compensation reflected in the interest rate, plus .5%. Percentage Reduction in Number of Participants as defined in Section 1.31: Processing Transfers: Purchase Rate Basis SAMPLE Termination Fee: