Qualified Contracts definition

Qualified Contracts. Contracts issued in connection with retirement plans that receive favorable tax treatment under Sections 401, 403, 408, 408A or 457 of the Internal Revenue Code.

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Qualified Contracts. The Primary Annuitant must be the employee. If one of the Joint Life Payout Options is elected, the Joint Annuitant must be the Spouse of the Annuitant unless both consent otherwise.

Qualified Contracts. Certain Plan provisions required by the Code, ERISA or other applicable laws may limit the Owner's rights under this Contract. The provisions may: 1) Require consent of the Owner's Spouse before the Owner may elect to receive Income Payments.

Examples of Qualified Contracts in a sentence

Qualified Contracts may have additional restrictions on naming and changing Beneficiaries.
Each additional Purchase Payment must be at least $250 for Non-Qualified Contracts and $50 for Qualified Contracts.
Certain Qualified Contracts may require distributions to occur at an earlier age.
For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day.
This provision is available for Tax Qualified Contracts if agreed to by Us.
Certain Qualified Contracts may require distributions at an earlier Age.
Distribution Rules do not apply to Qualified Contracts issued under Qualified Plans as defined in Section 401, 403, 408 or 408A of the Code or to an annuity that is a qualified funding asset as defined in Code Section 130(d) (but without regard to whether there is a qualified assignment).
Notwithstanding any provision of this contract to the contrary, no payment of benefits provided under the contract will be allowed that does not satisfy the requirements of section 72(s) of the Code, as amended from time to time, for Non-Qualified Contracts and section 401(a)(9), as amended for Qualified Contracts.
The Initial Purchase Payment must be at least $5,000 for Non-Qualified Contracts and $2,000 (or $50 if payments are to be made by monthly payroll deduction) for Qualified Contracts.
Please note that Option 5 may not satisfy minimum required distribution rules for Qualified Contracts.

More Definitions of Qualified Contracts

Qualified Contracts means contracts that:

Qualified Contracts are Contracts purchased in connection with a plan that qualifies for favorable tax treatment under Sections 401, 403(b) or 408 of the Internal Revenue Code.

Qualified Contracts are Contracts purchased in connection with a plan that qualifies under Sections 401, 403(b), 408 or 457 of the Internal Revenue Code.

Qualified Contracts means the total value of contracts measured by revenue due to Employer or any of its subsidiaries over the entire period of the contracts. “Qualified Mining Contracts” means the estimated value of material sold by Employer or any of its subsidiaries under mining contracts or mineral licenses in a single year or a maximum of five years if contracts are for five or more years. The Board shall make all determinations of the value of new Qualified Contracts and Qualified Mining Contracts. For purposes of this Section 3.4 “subsidiaries” shall include any entity in which Employer directly or indirectly owns 50% or more of the voting securities.