Common use of Limitations on Contributions Clause in Contracts

Limitations on Contributions. The amount you can contribute depends on your MAGI for the tax year for which the contribution applies, your marital status, and your tax-filing status. The following chart shows how your MAGI and status affect your contribution limit. The greater your MAGI, the lesser the amount you may contribute. 2014 MAGI LIMITS Modified AGI (MAGI)* Single Married, Filing Jointly Married, Filing Separately** Less than $10,000 Full Contribution Full Contribution Phaseout $ 10,000 - $114,000 Full Contribution Full Contribution No Contribution $114,001 - $128,999 Phaseout Full Contribution No Contribution $129,000 - $181,000 No Contribution Full Contribution No Contribution $181,001 - $190,999 No Contribution Phaseout No Contribution $191,000 or over No Contribution No Contribution No Contribution

Limitations on Contributions. The amount you can contribute depends on your MAGI for the tax year for which the contribution applies, your marital status, and your tax-filing status. The following chart shows how your MAGI and status affect your contribution limit. The greater your MAGI, the lesser the amount you may contribute. 2014 2018 MAGI LIMITS Modified AGI (MAGI)* Single Married, Filing Jointly Married, Filing Separately** Less than $10,000 Full Contribution Full Contribution Phaseout $ 10,000 - $114,000 120,000 Full Contribution Full Contribution No Contribution $114,001 120,001 - $128,999 134,999 Phaseout Full Contribution No Contribution $129,000 135,000 - $181,000 189,000 No Contribution Full Contribution No Contribution $181,001 189,001 - $190,999 198,999 No Contribution Phaseout No Contribution $191,000 199,000 or over No Contribution No Contribution No Contribution

Limitations on Contributions. The amount you can contribute depends on your MAGI for the tax year for which the contribution applies, your marital status, and your tax-filing status. The following chart shows how your MAGI and status affect your contribution limit. The greater your MAGI, the lesser the amount you may contribute. 2014 2019 MAGI LIMITS Modified AGI (MAGI)* Single Married, Filing Jointly Married, Filing Separately** Less than $10,000 Full Contribution Full Contribution Phaseout $ 10,000 - $114,000 122,000 Full Contribution Full Contribution No Contribution $114,001 122,001 - $128,999 136,999 Phaseout Full Contribution No Contribution $129,000 137,000 - $181,000 193,000 No Contribution Full Contribution No Contribution $181,001 193,001 - $190,999 202,999 No Contribution Phaseout No Contribution $191,000 203,000 or over No Contribution No Contribution No Contribution