California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan

• Category: Corporations - Public - Agreements - Transfers
• State: Multi-State
• Control #: US-EG-9312
• Format: Word; Rich Text

Description

Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan between Semiconductor Components Industries, LLC and Motorola, Inc. regarding benefit pension plan meeting requirements of the Internal Revenue Service dated May 10, 1999. 6 pages. California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the process of transferring retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in California, specifically for employees of Motorola, Inc. who are retiring or terminating their employment. The agreement ensures the smooth transition of pension benefits by providing a detailed framework and legal specifications to govern the transfer process. This agreement is specific to California as it pertains to the state's unique retirement plan regulations and requirements. Some key elements addressed in the California Retirement Plan Transfer Agreement include: 1. Parties Involved: The agreement specifies the parties involved, including the transferring employer (Motorola, Inc.), the receiving retirement plan in California, and the individual employee who is eligible for the transfer. 2. Transfer Process: The agreement outlines the step-by-step process for transferring the pension benefits, including the necessary paperwork, timelines, and communication channels between all involved parties. 3. Benefit Calculation and Valuation:A detailed explanation is provided on how the pension benefits will be calculated and valued upon transfer. This includes considerations such as years of service, average salary, and other applicable factors. 4. Retiree Rights and Protections: The agreement outlines the rights and protections of the retiree throughout the transfer process, ensuring that their pension benefits are safeguarded and secure. 5. Employee Communication and Notice Requirements: The agreement specifies the responsibilities of Motorola, Inc. to notify employees about the transfer process, including providing relevant information and documentation regarding the new retirement plan options available. 6. Qualified Domestic Relations Orders (QDR Os): If applicable, the agreement addresses the treatment of QDR Os, which may involve the division of pension benefits due to divorce or separation. It's important to note that the Motorola, Inc. Pension Plan may have different variations of the California Retirement Plan Transfer Agreement based on specific circumstances or individual employee requirements. These variations could include agreements pertaining to early retirement, disability retirement, survivors' benefits, and other scenarios that may differ from the typical retirement transfer process. Overall, the California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan ensures a transparent, legally sound, and efficient transition of retirement benefits for Motorola, Inc. employees to the designated retirement plan in California, complying with applicable state laws and regulations.

California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the process of transferring retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in California, specifically for employees of Motorola, Inc. who are retiring or terminating their employment. The agreement ensures the smooth transition of pension benefits by providing a detailed framework and legal specifications to govern the transfer process. This agreement is specific to California as it pertains to the state's unique retirement plan regulations and requirements. Some key elements addressed in the California Retirement Plan Transfer Agreement include: 1. Parties Involved: The agreement specifies the parties involved, including the transferring employer (Motorola, Inc.), the receiving retirement plan in California, and the individual employee who is eligible for the transfer. 2. Transfer Process: The agreement outlines the step-by-step process for transferring the pension benefits, including the necessary paperwork, timelines, and communication channels between all involved parties. 3. Benefit Calculation and Valuation:A detailed explanation is provided on how the pension benefits will be calculated and valued upon transfer. This includes considerations such as years of service, average salary, and other applicable factors. 4. Retiree Rights and Protections: The agreement outlines the rights and protections of the retiree throughout the transfer process, ensuring that their pension benefits are safeguarded and secure. 5. Employee Communication and Notice Requirements: The agreement specifies the responsibilities of Motorola, Inc. to notify employees about the transfer process, including providing relevant information and documentation regarding the new retirement plan options available. 6. Qualified Domestic Relations Orders (QDR Os): If applicable, the agreement addresses the treatment of QDR Os, which may involve the division of pension benefits due to divorce or separation. It's important to note that the Motorola, Inc. Pension Plan may have different variations of the California Retirement Plan Transfer Agreement based on specific circumstances or individual employee requirements. These variations could include agreements pertaining to early retirement, disability retirement, survivors' benefits, and other scenarios that may differ from the typical retirement transfer process. Overall, the California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan ensures a transparent, legally sound, and efficient transition of retirement benefits for Motorola, Inc. employees to the designated retirement plan in California, complying with applicable state laws and regulations.