Regular Contribution Limit Clause Samples

Regular Contribution Limit. The maximum regular contribution that can be made to all the ▇▇▇▇ ▇▇▇ Owner’s ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under Section 4.01(C)(1) or (2) of this Agreement. 1. The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income in accordance with the following table. Filing Status Full Contribution Phase-Out Range Modified AGI No Contribution Single or Head of Household $95,000 or less Between $95,000 and $110,000 $110,000 or more Joint Return or Qualifying Widow(er) $150,000 or less Between $150,000 and $160,000 $160,000 or more Married – Separate Return $0 Between $0 and $10,000 $10,000 or more A ▇▇▇▇ ▇▇▇ Owner’s modified adjusted gross income (MAGI) for a taxable year is defined in Code Section 408A(c)(3) and does not include any amount included in adjusted gross income as a result of a qualified rollover contribution. If the ▇▇▇▇ ▇▇▇ Owner’s MAGI for a taxable year is in the phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. After 2006, the MAGI limits above will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 408A(c)(3). Such adjustments will be in multiples of $1,000. 2. If the ▇▇▇▇ ▇▇▇ Owner makes regular contributions to both ▇▇▇▇ and Traditional IRAs for a taxable year, the maximum regular contribution that can be made to all the ▇▇▇▇ ▇▇▇ Owner’s ▇▇▇▇ IRAs for that taxable year is reduced by the regular contributions made to the ▇▇▇▇ ▇▇▇ Owner’s Traditional IRAs for the taxable year.

Regular Contribution Limit. If (i) and/or (ii) below apply, the -------------------------- maximum regular contribution that can be made to all the Owner's ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under (i) or (ii). (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (f) below) in accordance with the following table: Filing Status Full Contribution Phase-out Range No Contribution -------------------------------------------------------------------------------------------- Modified AGI -------------------- -------------------------- -------------------------- ----------------- Single or Head $ 95,000 or less Between $95,000 $110,000 or of Household and $110,000 more Joint Return or $ 150,000 or less Between $150,000 $160,000 or Qualifying and $160,000 more Widow(er) Married- $ 0 Between $0 $10,000 or Separate Return and $10,000 more -------------------- -------------------------- -------------------------- ----------------- If the Owner's modified AGI for a taxable year is in the phase- out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. ML-446 (07/01) -------------------------------------------------------------------------------- (ii) If the Owner makes regular contributions to both ▇▇▇▇ and non- ▇▇▇▇ IRAs for a taxable year, the maximum regular contribution that can be made to all the ▇▇▇▇ IRAs for that taxable year is reduced by the regular contributions made to the non-▇▇▇▇ IRAs for the taxable year.

Regular Contribution Limit. The limit on regular contributions described in (a) above is gradually reduced to $0 between certain levels of modified adjusted gross income ("modified AGI," as defined below). For an Owner who is single or is a head of household, the maximum annual regular contribution is phased out between modified AGI of $95,000 and $110,000; for an Owner who is married filing a joint return or is a qualifying widow(er), between modified AGI of $150,000 and $160,000; and for an Owner who is married filing a separate return, between modified AGI of $0 and $10,000. If the Owner's modified AGI for a taxable year is in the phase-out range, the maximum regular contribution determined under the previous paragraph for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. After 2006, the dollar amounts above will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 408A(c)(3). Such adjustments will be in multiples of $1,000. If the Owner makes regular contributions to both Roth IRAs and nonRoth IRAs for a taxable year, the maximum regular contribution that can be made to all the Owner's Roth IRAs for that taxable ▇▇▇▇ is reduced by the regular contributions made to the Owner's nonRoth IRAs for the taxable year.

Regular Contribution Limit. The maximum regular contribution that can be made to all of the Owner's Roth IRAs for a taxable yea▇ ▇▇ the smaller of the amount determined under subparagraph 3(b)(i) or (ii) below.

Regular Contribution Limit. If (i) and/or (ii) below apply, the maximum regular contribution that can be made to all the individual's ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under (i) or (ii). i. The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (g) below) in accordance section 408A of the Code, the provisions of which are herein incorporated by reference. The following table is an example of the provisions under section 408A: Filing Status Full Contribution Phase-out Range No Contribution Single or Head of Household $95,000 or less Between $95,000 and $110,000 $110,000 or more Joing Return or Qualifying Widow(er) $150,000 or less Between $150,000 and $160,000 $160,000 Married-Separate Return $0 Between $0 and $10,000 $10,000 or more If the individual's modified AGI for a taxable year is in the phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. ii. If the individual makes regular contributions to both ▇▇▇▇ and non-▇▇▇▇ IRAs for a taxable year, the maximum regular contribution that can be made to all the individual's ▇▇▇▇ IRAs for that taxable year is reduced by the regular contributions made to the individual's non-▇▇▇▇ IRAs for the taxable year.

Regular Contribution Limit. If (i) and/or (ii) below apply, the maximum regular contribution that can be made to all the owner’s ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under (i) or (ii). i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income (“modified AGI,” defined in (g) below) in accordance with the following table: If the owner’s modified AGI for a taxable year is in the phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. After 2006, the dollar amounts above will be adjusted by the Secretary of the Treasury for cost-of-living increases under IRC Section 408A(c)(3). Such adjustments will be in multiples of $1,000. ii) If the owner makes regular contributions to both ▇▇▇▇ and non-▇▇▇▇ IRAs for a taxable year, the maximum regular contribution that can be made to all the owner’s ▇▇▇▇ IRAs for that taxable year is reduced by the regular contributions made to the owner’s non-▇▇▇▇ IRAs for the taxable year. VM-YR-▇▇▇▇▇ ▇▇▇ (07)

Regular Contribution Limit. The maximum regular contribution that can be made to all the Owner’s ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under (i) or (ii). (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income (“modified AGI,” defined in (h) below) in accordance with the following table: Filing Status Full Contribution Phase-Out Range Modified AGI No Contribution Single of Head of Household $105,000 or less Between $105,000 and $120,000 $120,000 or more Joint Return or Qualifying Widow(er) $167,000 or less Between $167,000 and $177,000 $160,000 or more Married-Separate Return $0 Between $0 and $10,000 $10,000 or more If the Owner’s modified AGI for a taxable year is in the phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. The dollar amounts above will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code §408A(c)(3). Such adjustments will be in multiples of $1,000. (ii) If the Owner makes regular contributions to both ▇▇▇▇ and nonRoth IRAs for a taxable year, the maximum regular contribution that can be made to all the Owner’s ▇▇▇▇ IRAs for that taxable year is reduced by the regular contributions made to the Owner’s nonRoth IRAs for the taxable year.

Regular Contribution Limit. The maximum regular contribution that can be made to all the Depositor’s ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under (i) or (ii) below. (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income in accordance with the following table: Filing Status Full Contribution Phase out Range No Contribution Single or Head of Household $116,000 or less Between $116,000 and $131,000 $131,000 or more Married-Filing Jointly, or Joint return of Qualifying Widow(er) $183,000 or less Between $183,000 and $193,000 $193,000 or more Married-Separate Return $0 Between $0 and $10,000 $10,000 or more Filing Status Full Contribution Phase out Range No Contribution Single or Head of Household $117,000 or less Between $117,000 and $132,000 $132,000 or more Married-Filing Jointly, or Joint return of Qualifying Widow(er) $184,000 or less Between $184,000 and $191,000 $194,000 or more Married-Separate Return $0 Between $0 and $10,000 $10,000 or more An individual’s modified adjusted gross income (“modified AGI”) for a taxable year is defined in Code § 408A(c)(3) and does not include any amount included in adjusted gross income as a result of a qualified rollover contribution. If the individual’s modified AGI for a taxable year is in the phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. After 2006, the dollar amounts above will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code § 408A(c) (3). Such adjustments will be in multiples of $1,000. (ii) If the Depositor makes regular contributions to both ▇▇▇▇ and non-▇▇▇▇ IRAs for a taxable year, the maximum regular contribution that can be made to all of the Depositor’s ▇▇▇▇ IRAs for that taxable year is reduced by the regular contributions made to the Depositor’s non-▇▇▇▇ IRAs for the taxable year.

Regular Contribution Limit. If Paragraph (1) and/or (2) below apply, the maximum Regular Contribution that can be made to all the Participant's ▇▇▇▇ IRAs for a taxable year is the smaller amount determined under Paragraph (1) or (2). (1) The maximum Regular Contribution is phased out ratably between certain levels of Modified AGI in accordance with the following table: Filing Status Full Contribution Phase-Out Range No Contribution ModifiedAGI --------------------------------------------------------------- Single or Head $95,000 or less Between $95,000 $110,000 or more of Household and $110,000 Joint Return or $150,000 or less Between $150,000 $160,000 or more Qualifying Widow(er) and $160,000 Married - $0 Between $0 $10,000 or more Separate Return and $10,000 If the Participant's Modified AGI for a taxable year is in the phase-out range, the maximum Regular Contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. (2) If the Participant makes Regular Contributions to both ▇▇▇▇ and Non-▇▇▇▇ IRAs for a taxable year, the maximum Regular Contribution that can be made to all the Participant's ▇▇▇▇ IRAs for that taxable year is reduced by the Regular Contributions made to the Participant's Non-▇▇▇▇ IRAs for the taxable year.