The Colorado Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. is a legally binding document that outlines the establishment and operation of a trust fund for retirement savings. This agreement ensures that employees of Polaris Industries have access to a comprehensive retirement plan managed by Fidelity Management Trust Co. Here are key details and types of trust agreements related to the Colorado Polaris 401(k) Retirement Savings Plan: 1. Establishment of Trust: The agreement establishes the trust as a separate legal entity, distinct from both Polaris Industries, Inc. and Fidelity Management Trust Co. It clearly defines the roles and responsibilities of each party involved in managing the trust. 2. Purpose of Trust: The primary purpose of the trust is to provide retirement benefits to eligible employees of Polaris Industries. It lays out the objectives and guidelines for managing the trust fund to ensure it stays in line with statutory and regulatory requirements. 3. Contributions and Vesting: The agreement specifies the contribution amounts and timing of these contributions by both the employees and Polaris Industries. It also outlines the vesting schedule, which determines when employees gain ownership of the contributed funds. 4. Investment Management: Fidelity Management Trust Co. is appointed as the trustee responsible for managing the investment of the trust funds. The agreement defines the scope of their authority and establishes guidelines for investment choices, ensuring compliance with the Employee Retirement Income Security Act (ERICA). 5. Distribution and Withdrawals: The agreement describes the process and conditions for distributing funds to retirees or beneficiaries, including provisions for required minimum distributions (Rods) and hardship withdrawals. 6. Amendments and Termination: It outlines the procedures for making amendments to the trust agreement and provides mechanisms for the termination of the trust if necessary. Any changes made to the agreement must follow specific protocols to protect the interests of the plan participants. 7. Named Trust Agreements: While the Colorado Polaris 401(k) Retirement Savings Plan Trust Agreement is specific to Polaris Industries, there may be other trust agreements established between Fidelity Management Trust Co. and different companies in Colorado. These agreements would be tailored to the respective companies' retirement plans and would differ in terms of contribution limits, investment options, and other plan-specific provisions. In summary, the Colorado Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. provides a framework for the establishment, management, and operation of a retirement savings trust fund. It ensures that employees have access to a well-managed retirement plan and defines the roles and responsibilities of all parties involved in its administration.
Colorado Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding establishment of trust
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How to fill out Polaris 401(k) Retirement Savings Plan Trust Agreement Between Polaris Industries, Inc. And Fidelity Management Trust Co. Regarding Establishment Of Trust?
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The Basic Plan Document outlines all possible plan provisions and options imaginable. Most retirement plans utilize the Base Plan Document in conjunction with an Adoption Agreement (AA).
Plan sponsor ? The organization that initially set up the retirement plan. This is typically the employer. Plan administrator ? The individuals responsible for running the plan. These are typically employees of the organization ? often the human resources manager or chief financial officer, or both.
The 401(k) adoption agreement is the document that defines the specific features of your 401(k) plan. The Adoption Agreement is created by the Third Party Administrator, or TPA, using their Basic Plan Document.
The basic plan document contains all the non-elective provisions and can't include any options or blanks for the employer to complete. The adoption agreement contains the options (and blanks) for the employer to complete and is also where the employer signs the plan.
An IRA Adoption Agreement and Plan Document is a contract between the owner of an IRA and the financial institution where the account is held. The IRA adoption agreement and plan document must be signed by the account owner before the individual retirement account (IRA) can be valid.
Trust Agreement The trustee essentially has legal title to the plan assets. The plan's assets are protected from the creditors of the Plan Sponsor. As such, if the employer was to become financially insolvent, the assets would be available to the plan participants and their beneficiaries.
If you are under age 59½, your earnings may be subject to the 10% early withdrawal penalty. If you are over age 59½, you may withdraw before-tax funds (excluding your TVA matching funds) from the 401(k) Plan. You will not pay an early withdrawal penalty; however, your distribution will be taxed as ordinary income.
Go to Fidelity.com or call 800-343-3548. Use this form to request a one-time withdrawal from a Fidelity Self-Employed 401(k), Profit Sharing, or Money Purchase Plan account. Possible requests include a one-time, immediate distribution; a qualified or direct conversion to a Roth IRA; or a direct rollover.