Arizona Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding establishment of trust

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• Control #: US-EG-9323
• Format: Word; Rich Text

Description

Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company regarding the establishment of a trust to hold and invest Plan assets under the Plan for the exclusive benefit of participants The Arizona Polaris 401(k) Retirement Savings Plan Trust Agreement is a comprehensive legal document that outlines the establishment of a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. for the purpose of managing retirement savings contributions made by Polaris employees. This agreement ensures the proper administration and investment of funds to provide secure and substantial retirement benefits for eligible employees. The key elements of the agreement include: 1. Trust Establishment: The Arizona Polaris 401(k) Retirement Savings Plan Trust Agreement serves as the formal embodiment of the trust relationship between Polaris Industries, Inc. and Fidelity Management Trust Co. It outlines the roles, responsibilities, and powers of both parties involved. 2. Fiduciary Duties: The agreement defines the responsibilities and fiduciary duties of Fidelity Management Trust Co. as the trustee. Fidelity is obligated to act solely in the interests of the participants and beneficiaries of the retirement plan, ensuring that all investment decisions are made prudently and in accordance with relevant laws. 3. Investment Powers: The trust agreement grants Fidelity the authority to invest the funds contributed by employees into various investment options available under the retirement plan. This includes stocks, bonds, mutual funds, and other asset classes, giving employees an opportunity to grow their retirement savings through a diversified portfolio. 4. Contribution Management: The agreement outlines the process of employee contributions, including the procedure for automatic contributions from payroll deductions, employer matching contributions, and potential profit-sharing contributions. It also specifies the timing and frequency of contributions and any restrictions or limits imposed. 5. Vesting and Distribution: The trust agreement details the vesting requirements, which determine when and to what extent employees are entitled to the contributions made by Polaris and any related earnings. It also provides guidelines for the distribution of funds upon retirement, termination, disability, or death, ensuring that the rightful beneficiaries receive the appropriate benefits. 6. Amendments and Termination: The agreement establishes the protocol for making amendments to the trust agreement, including any changes to the investment options, contribution limits, or administrative procedures. It also outlines the circumstances under which the trust can be terminated, such as the discontinuation of the retirement plan or a change in the relationship between Polaris Industries, Inc. and Fidelity Management Trust Co. Different types of Arizona Polaris 401(k) Retirement Savings Plan Trust Agreements may exist based on specific provisions applicable to different organizations or industries. For example, there might be variations in contribution matching percentages, eligibility criteria, or investment options offered. These unique characteristics cater to the needs and requirements of the respective organizations, but the fundamental purpose of the trust agreement remains consistent — to provide a trustworthy and effective platform for employees to save for retirement.

The Arizona Polaris 401(k) Retirement Savings Plan Trust Agreement is a comprehensive legal document that outlines the establishment of a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. for the purpose of managing retirement savings contributions made by Polaris employees. This agreement ensures the proper administration and investment of funds to provide secure and substantial retirement benefits for eligible employees. The key elements of the agreement include: 1. Trust Establishment: The Arizona Polaris 401(k) Retirement Savings Plan Trust Agreement serves as the formal embodiment of the trust relationship between Polaris Industries, Inc. and Fidelity Management Trust Co. It outlines the roles, responsibilities, and powers of both parties involved. 2. Fiduciary Duties: The agreement defines the responsibilities and fiduciary duties of Fidelity Management Trust Co. as the trustee. Fidelity is obligated to act solely in the interests of the participants and beneficiaries of the retirement plan, ensuring that all investment decisions are made prudently and in accordance with relevant laws. 3. Investment Powers: The trust agreement grants Fidelity the authority to invest the funds contributed by employees into various investment options available under the retirement plan. This includes stocks, bonds, mutual funds, and other asset classes, giving employees an opportunity to grow their retirement savings through a diversified portfolio. 4. Contribution Management: The agreement outlines the process of employee contributions, including the procedure for automatic contributions from payroll deductions, employer matching contributions, and potential profit-sharing contributions. It also specifies the timing and frequency of contributions and any restrictions or limits imposed. 5. Vesting and Distribution: The trust agreement details the vesting requirements, which determine when and to what extent employees are entitled to the contributions made by Polaris and any related earnings. It also provides guidelines for the distribution of funds upon retirement, termination, disability, or death, ensuring that the rightful beneficiaries receive the appropriate benefits. 6. Amendments and Termination: The agreement establishes the protocol for making amendments to the trust agreement, including any changes to the investment options, contribution limits, or administrative procedures. It also outlines the circumstances under which the trust can be terminated, such as the discontinuation of the retirement plan or a change in the relationship between Polaris Industries, Inc. and Fidelity Management Trust Co. Different types of Arizona Polaris 401(k) Retirement Savings Plan Trust Agreements may exist based on specific provisions applicable to different organizations or industries. For example, there might be variations in contribution matching percentages, eligibility criteria, or investment options offered. These unique characteristics cater to the needs and requirements of the respective organizations, but the fundamental purpose of the trust agreement remains consistent — to provide a trustworthy and effective platform for employees to save for retirement.