Common use of Modified AGI Clause in Contracts

Modified AGI. Modified AGI does not include any distributions from a traditional ▇▇▇ that are converted to a ▇▇▇▇ ▇▇▇ and included in income. Modified AGI is determined before deductible traditional ▇▇▇ contributions. Effective for distributions after December 31, 2004, modified AGI does not include any amounts that are required minimum distributions pursuant to section 408(a)(6) only for purposes of determining eligibility for conversion contributions. Miscellaneous Contribution Rules—Contributions are permitted after you attain age 70 ½, so long as you have compensation and meet the AGI limits described above. Contributions are permitted regardless of whether you are an active participant in an employer-sponsored plan. Special Rules for Qualified Reservist Distributions: Qualified Reservist Distributions withdrawn from a ▇▇▇▇ ▇▇▇ are eligible to be repaid to a ▇▇▇▇ ▇▇▇ within a 2-year period after the end of active duty. A Qualified Reservist Distribution is a distribution received from a ▇▇▇▇ ▇▇▇ by members of the National Guard or reservists who are called to active duty for a period of EXCESS CONTRIBUTIONS TO A ▇▇▇▇ ▇▇▇

Modified AGI. Modified AGI does not include any distributions from a traditional ▇▇▇ IRA that are converted to a ▇▇▇▇ ▇▇▇ and included in income. Modified AGI is determined before deductible traditional ▇▇▇ IRA contributions. Effective for distributions after December 31, 2004, modified AGI does not include any amounts that are required minimum distributions pursuant to section 408(a)(6) only for purposes of determining eligibility for conversion contributions. Miscellaneous Contribution Rules—Contributions are permitted after you attain age 70 ½, so long as you have compensation and meet the AGI limits described above. Contributions are permitted regardless of whether you are an active participant in an employer-sponsored plan. Special Rules for Qualified Reservist Distributions: Qualified Reservist Distributions withdrawn from a ▇▇▇▇ ▇▇▇ are eligible to be repaid to a ▇▇▇▇ ▇▇▇ within a 2-year period after the end of active duty. A Qualified Reservist Distribution is a distribution received from a ▇▇▇▇ ▇▇▇ by members of the National Guard or reservists who are called to active duty for a period of EXCESS CONTRIBUTIONS TO A ▇▇▇▇ ▇▇▇