Simple Iras Clause Samples

Simple Iras. Section 1.6 of the Agreement is hereby amended by deleting sub-section 1.6 (b) in its entirety and replacing it with the following new sub-section:
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Simple Iras. Although a SIMPLE IRA is a type of Traditional IRA, special rules apply to rollovers to and from SIMPLE IRAs. In general, you may not roll over amounts from any other IRAs or eligible employer plans into a SIMPLE IRA and you may not roll over your SIMPLE IRA into another Traditional IRA or qualified employer- sponsored retirement plan during the two-year period beginning on the first day contributions are made by your employer to your SIMPLE IRA. Refer to your SIMPLE IRA plan information for rules regarding rollovers to and from SIMPLE IRAs. You may roll over all or part of an “eligible rollover distribution,” as described in the Code, from an eligible employer plan (other than a designated ▇▇▇▇ account), to a Traditional IRA (or a Rollover IRA). Distributions of after-tax contributions also may be eligible for rollover to Traditional IRAs. If you roll over after-tax contributions, you must keep track of those amounts and report them to the IRS as required by IRS rules. The administrator of the eligible employer plan must give you an explanation of your rollover options and the tax rules that affect your distribution. The rollover may be accomplished by a “direct rollover” or an “indirect rollover.” In a direct rollover, the plan issues the distribution directly to the custodian or trustee of the Traditional IRA. In an indirect rollover, the plan pays the distribution to you. You must then roll over the distribution to your Traditional IRA within 60 days. A rollover of assets from an eligible employer plan also may be accomplished by selling the assets distributed and rolling over the sale proceeds (within 60 days of the distribution date). If you roll over the entire sales proceeds, you will not include any gains or losses in your gross income. If you were born on or before January 1, 1936, keeping any rollover contribution that you make from your employer’s plan to a Rollover IRA, separate from all other contributions, may allow you to preserve special tax treatment (such as 10-year averaging) in the event that you roll that amount to another employer’s plan and later take a distribution. This type of Rollover IRA, used as a holding account for a rollover to another employer’s plan, is referred to as a “conduit” IRA. Even if you were not born on or before January 1, 1936, a separate Rollover IRA may help you to keep track of different money sources (such as deductible and nondeductible contributions). Always check with your employer or plan administrator...
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Simple Iras. In 2022, employee elective deferrals may not exceed the lesser of 100% of your compensation for the calendar year or $14,000, with possible cost-of-living adjustments each year thereafter. Your employer may make additional contributions to your SIMPLE ▇▇▇ within the limits prescribed in Internal Revenue Code Section (IRC Sec.) 408(p). Your employer is required to provide you with information that describes the terms of its SIMPLE ▇▇▇ plan. Subject to the limitations described above, if you are age 50 or older by the close of the taxable year, you may make an additional “catch up” contribution of up to $1,000 to your Traditional or ▇▇▇▇ IRAs and up to $3,000 to your SIMPLE ▇▇▇. These amounts may be adjusted by the IRS for cost of living increases.
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Simple Iras. The only contributions that may be made to your SIMPLE ▇▇▇ are employee elective deferrals under a qualified salary reduction agreement, employer contributions, and other contributions allowed by the Internal Revenue Code (the “Code” or “IRC”) or related regulations, that are made under a SIMPLE ▇▇▇ plan maintained by your employer.
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Simple Iras. The only contributions that may be made to your SIMPLE IRA are employee elective deferrals under a qualified salary reduction agreement, employer contributions, and other contributions allowed by the Internal Revenue Code (the “Code” or “IRC”) or related regulations, that are made under a SIMPLE IRA plan maintained by your employer. For taxable years beginning after December 31, 2022, ▇▇▇▇ deferrals may also be made to your SIMPLE IRA under a qualified salary reduction agreement.
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Simple Iras. Effective after December 18, 2015, you may roll over your accounts from an employer-sponsored retirement plan (401(a), 403(a), 403(b), or governmental 457(b) plan), Traditional IRA, or SEP IRA to a SIMPLE IRA, provided you have met the two-year initial participation period. Rollovers from ▇▇▇▇ IRAs to SIMPLE IRAs are still not permitted.
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Simple Iras. In 2024, employee elective deferrals may not exceed the lesser of 100% of your compensation for the calendar year or $16,000, with possible cost-of-living adjustments each year thereafter. Your employer may make additional contributions to your SIMPLE IRA within the limits prescribed in IRC Section 408(p). Your employer is required to provide you with information that describes the terms of its SIMPLE IRA plan. Subject to the limitations described above, if you are age 50 or older by the close of the taxable year, you may make an additional “catch up” contribution of up to $1,000 to your Traditional or ▇▇▇▇ IRAs and up to $3,500 to your SIMPLE IRA. These amounts may be adjusted by the IRS for cost-of-living increases.
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Simple Iras 
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Related to Simple Iras

  • What Forms of Distribution Are Available from a ▇▇▇▇▇▇▇▇▇ Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Distributions, Etc a. Following receipt by the Down REIT Sub of written notice (which notice shall specifically reference this Section 5 of this Agreement) from Lender that a Default has occurred and is continuing (a “Default Notice”): (i) upon the written instruction of Lender and until instructions to the contrary are received from Lender, the Down REIT Sub shall remit to Lender all cash distributions otherwise payable to Pledgor in respect of the Pledged Units, and HCPI shall remit to Lender all cash dividends otherwise payable to Pledgor in respect of the Pledged Shares, of any nature, and (ii) upon the written instruction of Lender and until instructions to the contrary are received from Lender, all rights of Pledgor to exercise the voting or other consensual rights that Pledgor would otherwise be entitled to exercise in respect of the Collateral shall cease, and all such rights (and any other rights Pledgor may have in respect of the Collateral) shall thereupon become vested in Lender, which shall have the sole right to exercise such rights, until further notice from Lender. With respect to cash distributions payable during such time as no event of Default is occurring, each Pledgor hereby directs the Down REIT Sub and/or HCPI, as the case may be, and the Down REIT Sub and/or HCPI, as the case may be, agrees to deposit any and all such dividends and distributions in the following account as set forth in Section 3.1. of the Loan Agreement: 43JO7293. Any amounts paid to the Lender or its designee as contemplated by the terms of the foregoing shall be treated as amounts paid or distributed to Pledgor for all purposes of the LLC Agreement, or other agreement pursuant to which the payment or distribution is made or is required to be made and shall be deemed to satisfy the obligations of the Down REIT Sub or HCPI to make such payment thereunder. Each Pledgor hereby agrees that neither the Down REIT Sub nor HCPI shall be deemed to be in breach of its obligations under, or in violation of the provisions of, any such agreement by virtue of having made such payments in the foregoing manner. b. From and after the date of this Agreement, and whether or not a Default has occurred and is continuing, if Pledgor shall become entitled to receive, in connection with any of the Collateral, any: i. LLC Units or stock certificates (including, without limitation, stock certificates relating to the Pledged Shares), including, without limitation, any certificates (1) issued in respect of additional properties contributed by such Pledgor to the Down REIT Sub, or (2) representing a dividend or distribution or issued in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares or partnership units, stock or partnership units split, spin-off, or split-off; ii. Options, warrants, rights or other securities or instruments, whether as an addition to, or in substitution or in exchange for, any of the Collateral, or otherwise; iii. Dividends or distributions payable in property other than cash, including securities issued by other than the issuer of any of the Collateral; or iv. Any sums paid in redemption of any of the Collateral, then HCPI shall deliver the same to Lender, to be held by Lender as part of the Collateral. Any amounts paid to the Lender or its designee as contemplated by the terms of the foregoing shall be treated as amounts paid or distributed to Pledgor for all purposes of the LLC Agreement, or other agreement pursuant to which the payment or distribution is made or is required to be made and shall be deemed to satisfy the obligations of the Down REIT Sub or HCPI to make such payment thereunder. Each Pledgor hereby agrees that neither the Down REIT Sub nor HCPI shall be deemed to be in breach of its obligations under, or in violation of the provisions of, any such agreement by virtue of having made such payments in the foregoing manner.

  • Instructions for Certification - Lower Tier Participants (Applicable to all subcontracts, purchase orders and other lower tier transactions requiring prior FHWA approval or estimated to cost $25,000 or more - 2 CFR Parts 180 and 1200) a. By signing and submitting this proposal, the prospective lower tier is providing the certification set out below. b. The certification in this clause is a material representation of fact upon which reliance was placed when this transaction was entered into. If it is later determined that the prospective lower tier participant knowingly rendered an erroneous certification, in addition to other remedies available to the Federal Government, the department, or agency with which this transaction originated may pursue available remedies, including suspension and/or debarment. c. The prospective lower tier participant shall provide immediate written notice to the person to which this proposal is submitted if at any time the prospective lower tier participant learns that its certification was erroneous by reason of changed circumstances. d. The terms "covered transaction," "debarred," "suspended," "ineligible," "participant," "person," "principal," and "voluntarily excluded," as used in this clause, are defined in 2 CFR Parts 180 and 1200. You may contact the person to which this proposal is submitted for assistance in obtaining a copy of those regulations. “First Tier Covered Transactions” refers to any covered transaction between a grantee or subgrantee of Federal funds and a participant (such as the prime or general contract). “Lower Tier Covered Transactions” refers to any covered transaction under a First Tier Covered Transaction (such as subcontracts). “First Tier Participant” refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Qualified Reservist Distributions If you are a qualified reservist member called to active duty for more than 179 days or an indefinite period, the payments you take from your IRA during the active duty period are not subject to the 10 percent early distribution penalty tax.

  • Stock Ownership Attached hereto as Schedule 8 is a true and correct list of all the duly authorized, issued and outstanding stock of each Subsidiary and the record and beneficial owners of such stock. Also set forth on Schedule 8 is each equity Investment of the Borrower and each Subsidiary that represents 50% or less of the equity of the entity in which such investment was made.