Florida 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 Florida Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the process and terms involved in transferring an employee's retirement benefits from the Motorola, Inc. Pension Plan to a Florida Retirement Plan. The purpose of this agreement is to facilitate the seamless transition of retirement benefits for Motorola employees who have chosen to relocate to Florida for their retirement years. By transferring their pension plan to a Florida Retirement Plan, employees can ensure that their retirement benefits continue to be managed and administered in accordance with the laws and regulations of the state. There are different types of Florida Retirement Plan Transfer Agreements available for Motorola, Inc. employees, depending on their specific circumstances and preferences. Some of these agreements include: 1. Defined Benefit Transfer Agreement: This agreement is applicable to employees who have participated in the Motorola, Inc. Pension Plan, which is a defined benefit plan. It outlines the process of transferring the accumulated benefits to a Florida Retirement Plan, ensuring the continued provision of retirement income based on a predetermined formula. 2. Defined Contribution Transfer Agreement: For employees who have participated in the Motorola, Inc. Pension Plan, which is a defined contribution plan, this agreement governs the transfer of their accumulated contributions and any employer matching funds to a Florida Retirement Plan. It provides guidelines on the investment of these funds in various investment options available under the Florida plan. 3. Rollover Transfer Agreement: This agreement is for employees who wish to roll over their pension plan distribution or lump-sum payments from the Motorola, Inc. Pension Plan to a Florida Retirement Plan. It ensures that the rollover process is conducted in compliance with the Internal Revenue Service (IRS) regulations, allowing individuals to maintain the tax-deferred status of their retirement funds. Regardless of the type of transfer agreement chosen, it is essential for Motorola, Inc. employees to carefully review the terms and conditions outlined in the agreement. This includes understanding any potential fees, investment options, and the impact on their retirement income stream. Seeking assistance from financial advisors or retirement specialists is advisable to ensure the transfer aligns with the employees' long-term retirement goals. In summary, the Florida Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan enables employees to transfer their retirement benefits to a Florida Retirement Plan, ensuring continued administration and management of their funds as they relocate to Florida for retirement. The different types of transfer agreements cater to different pension plan structures and individual preferences, providing flexibility and options for Motorola employees during the transition.

The Florida Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the process and terms involved in transferring an employee's retirement benefits from the Motorola, Inc. Pension Plan to a Florida Retirement Plan. The purpose of this agreement is to facilitate the seamless transition of retirement benefits for Motorola employees who have chosen to relocate to Florida for their retirement years. By transferring their pension plan to a Florida Retirement Plan, employees can ensure that their retirement benefits continue to be managed and administered in accordance with the laws and regulations of the state. There are different types of Florida Retirement Plan Transfer Agreements available for Motorola, Inc. employees, depending on their specific circumstances and preferences. Some of these agreements include: 1. Defined Benefit Transfer Agreement: This agreement is applicable to employees who have participated in the Motorola, Inc. Pension Plan, which is a defined benefit plan. It outlines the process of transferring the accumulated benefits to a Florida Retirement Plan, ensuring the continued provision of retirement income based on a predetermined formula. 2. Defined Contribution Transfer Agreement: For employees who have participated in the Motorola, Inc. Pension Plan, which is a defined contribution plan, this agreement governs the transfer of their accumulated contributions and any employer matching funds to a Florida Retirement Plan. It provides guidelines on the investment of these funds in various investment options available under the Florida plan. 3. Rollover Transfer Agreement: This agreement is for employees who wish to roll over their pension plan distribution or lump-sum payments from the Motorola, Inc. Pension Plan to a Florida Retirement Plan. It ensures that the rollover process is conducted in compliance with the Internal Revenue Service (IRS) regulations, allowing individuals to maintain the tax-deferred status of their retirement funds. Regardless of the type of transfer agreement chosen, it is essential for Motorola, Inc. employees to carefully review the terms and conditions outlined in the agreement. This includes understanding any potential fees, investment options, and the impact on their retirement income stream. Seeking assistance from financial advisors or retirement specialists is advisable to ensure the transfer aligns with the employees' long-term retirement goals. In summary, the Florida Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan enables employees to transfer their retirement benefits to a Florida Retirement Plan, ensuring continued administration and management of their funds as they relocate to Florida for retirement. The different types of transfer agreements cater to different pension plan structures and individual preferences, providing flexibility and options for Motorola employees during the transition.