Common use of Eligible Rollover Distribution Clause in Contracts

Eligible Rollover Distribution. An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or joint life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under §401(a)(9) of the Internal Revenue Code; any hardship distribution; the portion of any other distribution(s) that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities); and any other distribution(s) that is reasonably expected to total less than $200 during a year. For purposes of the $200 rule, a distribution from a designated ▇▇▇▇ account and a distribution from other accounts under the plan are treated as made under separate plans. A portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to (1) an individual retirement account or annuity described in §408(a) or (b) of the Code (a “traditional IRA”) or a ▇▇▇▇ individual retirement account or annuity described in section 408A of the Code (a “▇▇▇▇ ▇▇▇”); or to a qualified defined contribution plan described in §401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible.

Eligible Rollover Distribution. An eligible rollover distribution Eligible Rollover Distribution is any distribution of all or any portion of the balance to the credit of the distributeeDistributee from an Eligible Retirement Plan, except that an eligible rollover distribution Eligible Rollover Distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or joint life expectancy) of the distributee Distributee or the joint lives (or joint life expectancies) of the distributee Distributee and the distributeeDistributee’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under §Code Section 401(a)(9) of the Internal Revenue Code(minimum required distribution); any hardship distribution; the portion distribution on account of any other distribution(s) that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities)hardship; and any other distribution determined not to be an Eligible Rollover Distribution under the Code, or other applicable guidance. For purposes of determining whether a distribution from the Plan is an Eligible Rollover Distributions, any distribution(s) that is is(are) reasonably expected to total less than $200 during a year. For purposes of the $200 rule, a distribution from a designated ▇▇▇▇ account and a distribution from other accounts under the plan are year shall not be treated as made under separate plansan Eligible Rollover Distribution. A portion of a distribution shall not fail to be an eligible rollover distribution Eligible Rollover Distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to (1) an individual retirement account or annuity described in §Code Section 408(a) or (b) of the Code (a “traditional IRA”) or a ▇▇▇▇ individual retirement account or annuity described in section 408A of the Code (a “▇▇▇▇ ▇▇▇”); , or to a qualified defined contribution plan described in §Code Sections 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible. In all events, a distribution of Excess Amounts (defined in Section 3.7.1), Excess Aggregate Contributions, Excess Contributions, and Excess Elective Deferral Contributions is not an Eligible Rollover Distribution. A ▇▇▇▇ Contributions Account shall be treated as being held under a separate plan for purposes of applying the rules in A-9 (dividing an Eligible Rollover Distribution between direct rollover and direct pay), A-10 (dividing a direct rollover into multiple direct rollovers) and A-11 (de minimis distributions) of Treas.

Eligible Rollover Distribution. An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or joint life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required under §Section 401(a)(9) of the Internal Revenue Code; any hardship distribution; the portion of any other distribution(s) distribution that is not includible in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities); and any other distribution(s) that is reasonably expected exception permitted by law or the Internal Revenue Service. An eligible rollover distribution shall not include any hardship distribution and the distributee may not elect to total less than $200 during a year. For purposes have any portion of the $200 rule, such a distribution from a designated ▇▇▇▇ account and a distribution from other accounts under the plan are treated as made under separate planspaid directly to an eligible retirement plan. A portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-after tax employee contributions which are not includible in gross income. However, such portion may be transferred only to (1) an individual retirement account or annuity described in §Section 408(a) or (b) of the Code (a “traditional IRA”) or a ▇▇▇▇ individual retirement account or annuity described in section 408A of the Code (a “▇▇▇▇ ▇▇▇”); Code, or to a qualified defined contribution plan described in §Section 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible. Such a transfer may be made to an annuity contract described in Section 403(b) of the Code and such agreement is not required but the applicable contract must provide for separate accounting.