Colorado 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. The Colorado Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legally binding document that outlines the process and terms involved in transferring retirement funds from the Motorola, Inc. Pension Plan to a Colorado-specific retirement plan. This agreement is designed to facilitate the smooth transfer of pension benefits for Motorola, Inc. employees who are retiring and wish to consolidate their retirement assets under the laws and regulations of the state of Colorado. The agreement ensures that the transfer is executed in compliance with both federal and state laws governing retirement plans. The Colorado Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan covers various types of transfers based on individual circumstances. Some key types of transfer agreements under the Motorola, Inc. Pension Plan include: 1. Direct Transfer: This type of transfer involves the direct movement of retirement funds from the Motorola, Inc. Pension Plan to a Colorado-specific retirement plan without any taxable events. It allows retirees to seamlessly transition their retirement savings to a plan that aligns with Colorado's retirement laws and regulations. 2. Rollover Transfer: This type of transfer permits retirees to receive a distribution from the Motorola, Inc. Pension Plan and subsequently roll over the funds into a qualifying Colorado retirement plan within a specific time frame. This option offers more flexibility as individuals can choose the destination plan that best suits their retirement needs. 3. Lump Sum Transfer: This transfer type involves taking a one-time distribution from the Motorola, Inc. Pension Plan and transferring the entire balance into a Colorado-specific retirement account. This option can provide retirees with immediate access to a lump sum payment, which they can then manage and invest as per their retirement goals. 4. Partial Transfer: In certain cases, retirees may opt for a partial transfer, which allows them to transfer only a portion of their retirement funds to a Colorado retirement plan. This choice is beneficial for individuals who want to diversify their retirement savings across multiple accounts or plans. It's essential for employees of Motorola, Inc. who are planning their retirement to thoroughly review the Colorado Retirement Plan Transfer Agreement and consult with their financial advisors or legal professionals to ensure they understand the terms, implications, and available transfer options. By proceeding with a clear understanding of the agreement, retirees can make informed decisions regarding the transfer of their pension benefits to a Colorado-specific retirement plan under the Motorola, Inc. Pension Plan.

The Colorado Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legally binding document that outlines the process and terms involved in transferring retirement funds from the Motorola, Inc. Pension Plan to a Colorado-specific retirement plan. This agreement is designed to facilitate the smooth transfer of pension benefits for Motorola, Inc. employees who are retiring and wish to consolidate their retirement assets under the laws and regulations of the state of Colorado. The agreement ensures that the transfer is executed in compliance with both federal and state laws governing retirement plans. The Colorado Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan covers various types of transfers based on individual circumstances. Some key types of transfer agreements under the Motorola, Inc. Pension Plan include: 1. Direct Transfer: This type of transfer involves the direct movement of retirement funds from the Motorola, Inc. Pension Plan to a Colorado-specific retirement plan without any taxable events. It allows retirees to seamlessly transition their retirement savings to a plan that aligns with Colorado's retirement laws and regulations. 2. Rollover Transfer: This type of transfer permits retirees to receive a distribution from the Motorola, Inc. Pension Plan and subsequently roll over the funds into a qualifying Colorado retirement plan within a specific time frame. This option offers more flexibility as individuals can choose the destination plan that best suits their retirement needs. 3. Lump Sum Transfer: This transfer type involves taking a one-time distribution from the Motorola, Inc. Pension Plan and transferring the entire balance into a Colorado-specific retirement account. This option can provide retirees with immediate access to a lump sum payment, which they can then manage and invest as per their retirement goals. 4. Partial Transfer: In certain cases, retirees may opt for a partial transfer, which allows them to transfer only a portion of their retirement funds to a Colorado retirement plan. This choice is beneficial for individuals who want to diversify their retirement savings across multiple accounts or plans. It's essential for employees of Motorola, Inc. who are planning their retirement to thoroughly review the Colorado Retirement Plan Transfer Agreement and consult with their financial advisors or legal professionals to ensure they understand the terms, implications, and available transfer options. By proceeding with a clear understanding of the agreement, retirees can make informed decisions regarding the transfer of their pension benefits to a Colorado-specific retirement plan under the Motorola, Inc. Pension Plan.