Connecticut 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. Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan serves as a formal document that outlines the process and requirements involved in transferring retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in the state of Connecticut. This agreement is crucial in ensuring a smooth and seamless transition of pension benefits for employees who are relocating or wish to consolidate their retirement plans. The Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan ensures that the transfer is done in compliance with both Connecticut state law and the terms and conditions of the Motorola, Inc. Pension Plan. It helps safeguard the interests of the plan participants and ensures that their pension benefits are accurately accounted for in the new retirement plan. Key provisions typically included in the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan may cover the following aspects: 1. Eligibility Criteria: This section outlines the requirements for eligibility to transfer pension benefits to a Connecticut retirement plan. It specifies the categories of employees who are eligible for the transfer and any prerequisites that must be met. 2. Documentation and Submission: This part of the agreement clarifies the documents that must be submitted by the plan participant to initiate the transfer process. It may include the completion of specific forms, submission of identification and contact information, and any other necessary paperwork. 3. Transfer Procedure: The agreement outlines the step-by-step procedure for transferring pension benefits from the Motorola, Inc. Pension Plan to a Connecticut retirement plan. It details the responsibilities of both the plan participant and the administrators involved in facilitating the transfer. 4. Timeline and Processing: This section provides an estimated timeline for the completion of the transfer and acknowledges that processing times may vary. It also addresses any potential delays or contingencies that may impact the transfer process. 5. Benefits Calculation: The agreement specifies the methodology used to calculate the transferred benefits, ensuring that the formula complies with Connecticut state regulations and the terms of the Motorola, Inc. Pension Plan. 6. Vesting and Crediting: The agreement explains how the transferred benefits will be credited to the plan participant's account in the Connecticut retirement plan. It may detail the vesting schedule and any additional restrictions or conditions that may apply. It is important to note that while the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan can vary depending on specific circumstances or individual requests, the basic purpose of the agreement remains consistent—to facilitate the transfer of retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in Connecticut. Different types or variations of the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan may include customized provisions based on the individual's unique retirement needs, such as provisions for rollovers, direct transfers, or the consolidation of multiple retirement accounts. These variations ensure that the agreement is tailored to the specific circumstances of each plan participant, accommodating their unique goals and preferences. In summary, the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a crucial legal document that facilitates the transfer of retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in Connecticut. It ensures compliance with state laws and helps protect the interests of plan participants, providing a structured process for the seamless transition of pension benefits.

Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan serves as a formal document that outlines the process and requirements involved in transferring retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in the state of Connecticut. This agreement is crucial in ensuring a smooth and seamless transition of pension benefits for employees who are relocating or wish to consolidate their retirement plans. The Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan ensures that the transfer is done in compliance with both Connecticut state law and the terms and conditions of the Motorola, Inc. Pension Plan. It helps safeguard the interests of the plan participants and ensures that their pension benefits are accurately accounted for in the new retirement plan. Key provisions typically included in the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan may cover the following aspects: 1. Eligibility Criteria: This section outlines the requirements for eligibility to transfer pension benefits to a Connecticut retirement plan. It specifies the categories of employees who are eligible for the transfer and any prerequisites that must be met. 2. Documentation and Submission: This part of the agreement clarifies the documents that must be submitted by the plan participant to initiate the transfer process. It may include the completion of specific forms, submission of identification and contact information, and any other necessary paperwork. 3. Transfer Procedure: The agreement outlines the step-by-step procedure for transferring pension benefits from the Motorola, Inc. Pension Plan to a Connecticut retirement plan. It details the responsibilities of both the plan participant and the administrators involved in facilitating the transfer. 4. Timeline and Processing: This section provides an estimated timeline for the completion of the transfer and acknowledges that processing times may vary. It also addresses any potential delays or contingencies that may impact the transfer process. 5. Benefits Calculation: The agreement specifies the methodology used to calculate the transferred benefits, ensuring that the formula complies with Connecticut state regulations and the terms of the Motorola, Inc. Pension Plan. 6. Vesting and Crediting: The agreement explains how the transferred benefits will be credited to the plan participant's account in the Connecticut retirement plan. It may detail the vesting schedule and any additional restrictions or conditions that may apply. It is important to note that while the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan can vary depending on specific circumstances or individual requests, the basic purpose of the agreement remains consistent—to facilitate the transfer of retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in Connecticut. Different types or variations of the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan may include customized provisions based on the individual's unique retirement needs, such as provisions for rollovers, direct transfers, or the consolidation of multiple retirement accounts. These variations ensure that the agreement is tailored to the specific circumstances of each plan participant, accommodating their unique goals and preferences. In summary, the Connecticut Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a crucial legal document that facilitates the transfer of retirement benefits from the Motorola, Inc. Pension Plan to a retirement plan in Connecticut. It ensures compliance with state laws and helps protect the interests of plan participants, providing a structured process for the seamless transition of pension benefits.