Illinois 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 Illinois Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the necessary steps and procedures for transferring retirement plan benefits for employees of Motorola, Inc. in the state of Illinois. This agreement ensures a smooth transition of pension funds when an employee leaves the company or opts for a different retirement plan. Under this transfer agreement, eligible employees have the option to transfer their accumulated retirement benefits from the Motorola, Inc. Pension Plan to another qualified retirement plan or individual retirement account (IRA) domiciled in Illinois. This agreement ensures that employees receive their entitled benefits in a timely and efficient manner as they approach retirement. There may be different types of Illinois Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan, depending on the specific circumstances and preferences of the employee. Some common variations of this agreement include: 1. Full Transfer Agreement: This type of agreement allows eligible employees to transfer their entire accumulated pension benefits from the Motorola, Inc. Pension Plan to a new retirement plan or IRA. It provides a seamless transfer process without leaving any funds behind. 2. Partial Transfer Agreement: In certain situations, employees may prefer to transfer only a portion of their accumulated pension benefits to a new retirement plan or IRA. This type of agreement enables them to select the specific amount they wish to transfer, keeping the remaining benefits with the Motorola, Inc. Pension Plan. 3. Rollover Agreement: A rollover agreement is another variation of the transfer agreement. It allows employees to move their pension funds directly into a new retirement plan or IRA without incurring any tax liabilities or penalties. This option provides flexibility for individuals who want to further grow their retirement savings. The Illinois Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan aims to ensure that employees have control over their retirement savings and the ability to make informed decisions regarding their financial future. It guarantees a seamless transfer process and allows employees to choose the retirement plan or account that best suits their needs and goals.

The Illinois Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the necessary steps and procedures for transferring retirement plan benefits for employees of Motorola, Inc. in the state of Illinois. This agreement ensures a smooth transition of pension funds when an employee leaves the company or opts for a different retirement plan. Under this transfer agreement, eligible employees have the option to transfer their accumulated retirement benefits from the Motorola, Inc. Pension Plan to another qualified retirement plan or individual retirement account (IRA) domiciled in Illinois. This agreement ensures that employees receive their entitled benefits in a timely and efficient manner as they approach retirement. There may be different types of Illinois Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan, depending on the specific circumstances and preferences of the employee. Some common variations of this agreement include: 1. Full Transfer Agreement: This type of agreement allows eligible employees to transfer their entire accumulated pension benefits from the Motorola, Inc. Pension Plan to a new retirement plan or IRA. It provides a seamless transfer process without leaving any funds behind. 2. Partial Transfer Agreement: In certain situations, employees may prefer to transfer only a portion of their accumulated pension benefits to a new retirement plan or IRA. This type of agreement enables them to select the specific amount they wish to transfer, keeping the remaining benefits with the Motorola, Inc. Pension Plan. 3. Rollover Agreement: A rollover agreement is another variation of the transfer agreement. It allows employees to move their pension funds directly into a new retirement plan or IRA without incurring any tax liabilities or penalties. This option provides flexibility for individuals who want to further grow their retirement savings. The Illinois Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan aims to ensure that employees have control over their retirement savings and the ability to make informed decisions regarding their financial future. It guarantees a seamless transfer process and allows employees to choose the retirement plan or account that best suits their needs and goals.