Common use of Qualified Rollover Contribution Clause in Contracts

Qualified Rollover Contribution. This term includes: (a) Rollovers between ▇▇▇▇ ▇▇▇ accounts; (b) Traditional IRA converted to a ▇▇▇▇ ▇▇▇; (c) Direct Rollover from an Employer’s plan of funds other than a Designated ▇▇▇▇ Contribution Account; and (d) a rollover from a Designated ▇▇▇▇ Contribution Account to a ▇▇▇▇ ▇▇▇. Qualified Rollover Contributions must meet the general IRA rollover rules, except that the 12-month rollover restriction does not apply to rollovers (conversions) between a traditional IRA and a ▇▇▇▇ ▇▇▇. However, the 12- month rule does apply to rollovers between ▇▇▇▇ IRAs. Beginning in 2008, rollovers from employer-sponsored plans, such as qualified plans and 403(b)s, to a ▇▇▇▇ ▇▇▇ are permitted. You could also roll over from the employer's plan to a traditional IRA, and then roll over (convert) to a ▇▇▇▇ ▇▇▇. The rules discussed in this section apply only to amounts under an employer’s plan, other than Designated ▇▇▇▇ Contribution Accounts. An eligible rollover distribution from a Designated ▇▇▇▇ Contribution Account can be rolled over only to a ▇▇▇▇ ▇▇▇ or another accepting employer’s plan. Rollovers to traditional IRAs are permitted if you have received an eligible rollover distribution from one of the following: • A qualified plan under Section 401(a), • A qualified annuity under Section 403(a), • A Tax-Sheltered Annuity (TSA) or Custodial Account under Section 403(b), • A governmental section 457(b) plan, or • The Federal Employees' Thrift Savings Plan.

Qualified Rollover Contribution. This term includes: (a) Rollovers between ▇▇▇▇ ▇▇▇ accounts; (b) Traditional IRA converted to a ▇▇▇▇ ▇▇▇; (c) Direct Rollover from an Employer’s plan of funds other than a Designated ▇▇▇▇ Contribution Account; and (d) a rollover from a Designated ▇▇▇▇ Contribution Account to a ▇▇▇▇ ▇▇▇. Qualified Rollover Contributions must meet the general IRA rollover rules, except that the 12-month rollover restriction does not apply to rollovers (conversions) between a traditional IRA and a ▇▇▇▇ ▇▇▇. However, the 12- month rule does apply to rollovers between ▇▇▇▇ IRAs. Beginning in 2008, rollovers from employer-sponsored plans, such as qualified plans and 403(b)s, to a ▇▇▇▇ ▇▇▇ are permitted. You could also roll over from the employer's plan to a traditional IRA, and then roll over (convert) to a ▇▇▇▇ ▇▇▇. The rules discussed in this section apply only to amounts under an employer’s plan, other than Designated ▇▇▇▇ Contribution Accounts. An eligible rollover distribution from a Designated ▇▇▇▇ Contribution Account can be rolled over only to a ▇▇▇▇ ▇▇▇ or another accepting employer’s plan. Rollovers to traditional IRAs are permitted if you have received an eligible rollover distribution from one of the following: • A qualified plan under Section 401(a), • A qualified annuity under Section 403(a), • A Tax-Sheltered Annuity (TSA) or Custodial Account under Section 403(b), • A governmental section 457(b) plan, or • The Federal Employees' Thrift Savings Plan. • part of a series of substantially equal payments that are made at least once a year and that will last for: o your lifetime (or your life expectancy), or o your lifetime and your beneficiary's lifetime (or joint life expectancies), or o a period of ten years or more. • attributable to your required minimum distribution for the year • amounts attributable to any hardship distribution • deemed distributions of any defaulted participant loan • certain corrective distributions and ESOP dividends You can elect a direct rollover of all or any portion of your payment that is an "eligible rollover distribution ", as described above. In a direct rollover, the eligible rollover distribution is paid directly from the Plan to a traditional IRA or another employer plan that accepts rollovers. If you elect a direct rollover, you are not taxed on the payment until you later take it out of the IRA or the employer plan, and you will not be subject to the 20% mandatory Federal income tax withholding otherwise applicable to Eligible Rollover Distributions that are paid directly to you. Your employer is required to provide you with a Notice regarding the effects of electing or not electing a direct rollover to an IRA or another employer plan. Although a direct rollover is accomplished similar to a transfer, the IRA Custodian must report the direct rollover on Form 5498 as a rollover contribution.