Contributions and Transfers. General. The initial contribution or transfer with respect to each Participant shall be accompanied or preceded by a properly executed Enrollment Form and an Investment Direction Form. The Custodian shall accept and hold in the Custodial Account each contribution on behalf of the Participant which it receives from the Employer as well as any rollover contribution or other transfer contribution which it may receive from the Participant or previous custodian, subject to compliance by the Employer and Plan Provider with applicable Code Sec. 403(b) regulation transfer requirements. Each contribution shall be in a form acceptable to the Custodian. If a Custodial Account to which a contribution is to be credited has not yet been established, or if in the opinion of the Plan Provider or the Custodian the documents received by either of them are not clear with respect to any contribution, the Custodian may invest such contribution in a money market Mutual Fund, as selected by the Plan Provider, without liability on the part of the Custodian or Plan Provider, pending establishment of the Participant Account or completion or clarification of the information necessary for proper credit to the Participant Account, as the case may be.
Contributions and Transfers. 7.1 Does the district have a board-approved plan to eliminate, reduce or control any contributions/transfers from the unrestricted general fund to other restricted programs 2022 2024
Contributions and Transfers. The Trustee shall not accept contributions for any taxable year in excess of the lesser of $2,000 or 100% of Compensation (or in the case of a Xxxx XXX together with a Xxxx XXX established by the Owner for a nonworking spouse, the lesser of $4,000 or 100% of Compensation), except for contributions which the Owner has certified to the Trustee in writing to be Conversion Contributions or Xxxx Rollover Contributions. To be eligible to make contributions other than Conversion Contributions and Xxxx Rollover Contributions, the Owner must meet the adjusted gross income limits described in Code §408A(c)(3), as such limits may be adjusted from time to time. Conversion Contributions and Xxxx Rollover Contributions must be received by the Trustee in the form of cash, Fund shares or any combination thereof. The Trustee may require that each Conversion Contribution or Xxxx Rollover Contribution be accompanied by a properly completed transmittal form provided by the Trustee. The Owner may transfer assets in any amount from another Code §408A Xxxx individual retirement account. If the Owner adopts another Xxxx individual retirement account established under Code §408A, at the request of the Owner the Trustee shall deliver to such successor trustee or custodian the cash proceeds or designated Fund shares of the Xxxx XXX. The Trustee may require satisfactory evidence of the qualified status of any successor trustee or custodian. Contributions may be made to a Xxxx XXX, regardless of the age of the Owner. No contribution will be accepted in this Xxxx XXX under a SIMPLE XXX plan established by any employer pursuant to Code §408(p). No transfer or rollover of funds from a SIMPLE XXX to a Xxxx XXX established hereunder will be accepted.
Contributions and Transfers. Each contribution, transfer, sale and delivery referenced herein shall be by delivery of possession and such bills of sale, assignments and other good and sufficient instruments of sale, conveyance, transfer and assignment, reasonably acceptable to the transferee, as shall effectively vest in the transferee marketable title to the transferred property, free and clear of all Liens, other than Permitted Liens.
Contributions and Transfers
