Nebraska 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 Nebraska Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the process and guidelines for transferring retirement plan assets from Nebraska Retirement Systems to the Motorola, Inc. Pension Plan. This agreement is designed to facilitate a smooth transition of retirement benefits for employees who have been participants in both plans. The Nebraska Retirement Plan Transfer Agreement serves as a binding contract between the Nebraska Retirement Systems and Motorola, Inc., ensuring the proper transfer of funds, assets, and account information while protecting the rights and benefits of plan participants. It includes various provisions that outline the roles and responsibilities of both parties involved in the transfer process, and the timing and methods for transferring funds. Some key components addressed in the agreement include: 1. Asset Transfer: The agreement specifies the assets that are eligible for transfer from the Nebraska Retirement Systems to the Motorola, Inc. Pension Plan. These assets may include contributions made by employees, employer-matching contributions, as well as any investment earnings generated. 2. Participant Information: The agreement details the information required for each participant in both plans, including their full name, unique identification numbers, account balances, and any other relevant data needed to ensure accurate and timely transfers. 3. Transfer Process: It outlines the specific procedures and timelines for the transfer of assets. This may include deadlines for submitting transfer requests, the format in which information should be provided, and the method of transmission (electronic or paper). 4. Valuation and Pricing: The agreement establishes the methodology for valuing the assets being transferred, ensuring fair and accurate assessments. This can be a critical aspect, especially if there are different types of assets being transferred, such as stocks, bonds, or mutual funds. 5. Documentation and Reporting: The agreement specifies the required documentation to accompany the transfer request, including forms, statements, and other financial information. It may also outline the reporting obligations of both parties to communicate the progress and completion of the transfer. It's important to note that different types of Nebraska Retirement Plan Transfer Agreements may exist based on the specific circumstances and arrangements between Nebraska Retirement Systems and Motorola, Inc. These variations could include agreements for different employee groups, such as those tied to specific Motorola divisions or retirement plans for different employment terms (e.g., existing employees versus retirees). In conclusion, the Nebraska Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a comprehensive legal document that governs the transfer of retirement plan assets between Nebraska Retirement Systems and Motorola, Inc. It ensures a transparent and efficient process while safeguarding the interests of plan participants.

The Nebraska Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the process and guidelines for transferring retirement plan assets from Nebraska Retirement Systems to the Motorola, Inc. Pension Plan. This agreement is designed to facilitate a smooth transition of retirement benefits for employees who have been participants in both plans. The Nebraska Retirement Plan Transfer Agreement serves as a binding contract between the Nebraska Retirement Systems and Motorola, Inc., ensuring the proper transfer of funds, assets, and account information while protecting the rights and benefits of plan participants. It includes various provisions that outline the roles and responsibilities of both parties involved in the transfer process, and the timing and methods for transferring funds. Some key components addressed in the agreement include: 1. Asset Transfer: The agreement specifies the assets that are eligible for transfer from the Nebraska Retirement Systems to the Motorola, Inc. Pension Plan. These assets may include contributions made by employees, employer-matching contributions, as well as any investment earnings generated. 2. Participant Information: The agreement details the information required for each participant in both plans, including their full name, unique identification numbers, account balances, and any other relevant data needed to ensure accurate and timely transfers. 3. Transfer Process: It outlines the specific procedures and timelines for the transfer of assets. This may include deadlines for submitting transfer requests, the format in which information should be provided, and the method of transmission (electronic or paper). 4. Valuation and Pricing: The agreement establishes the methodology for valuing the assets being transferred, ensuring fair and accurate assessments. This can be a critical aspect, especially if there are different types of assets being transferred, such as stocks, bonds, or mutual funds. 5. Documentation and Reporting: The agreement specifies the required documentation to accompany the transfer request, including forms, statements, and other financial information. It may also outline the reporting obligations of both parties to communicate the progress and completion of the transfer. It's important to note that different types of Nebraska Retirement Plan Transfer Agreements may exist based on the specific circumstances and arrangements between Nebraska Retirement Systems and Motorola, Inc. These variations could include agreements for different employee groups, such as those tied to specific Motorola divisions or retirement plans for different employment terms (e.g., existing employees versus retirees). In conclusion, the Nebraska Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a comprehensive legal document that governs the transfer of retirement plan assets between Nebraska Retirement Systems and Motorola, Inc. It ensures a transparent and efficient process while safeguarding the interests of plan participants.