New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding establishment of trust

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• Control #: US-EG-9323
• Format: Word; Rich Text

Description

Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company regarding the establishment of a trust to hold and invest Plan assets under the Plan for the exclusive benefit of participants The New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement is an essential document that outlines the establishment of a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement ensures the proper management and administration of the retirement savings plan for employees of Polaris Industries, Inc. in New Jersey. The trust agreement serves as a legally binding contract that establishes the roles, responsibilities, and procedures for both Polaris Industries, Inc. and Fidelity Management Trust Co. in administering the 401(k) retirement savings plan. It sets out the terms and conditions, investment options, contribution guidelines, and distribution rules for plan participants. Key elements covered within the New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement include: 1. Establishment of Trust: The agreement clearly outlines the establishment of a trust fund to hold and administer the assets of the retirement savings plan. This ensures that the assets are used solely for the benefit of plan participants and in accordance with the law. 2. Roles and Responsibilities: The agreement clearly defines the roles and responsibilities of both Polaris Industries, Inc. and Fidelity Management Trust Co. Polaris Industries, Inc. acts as the plan sponsor and administrator, responsible for making plan design decisions, employee communication, and contribution management. Fidelity Management Trust Co. serves as the trustee and is responsible for executing investment decisions, record-keeping, and reporting. 3. Investment Options: The agreement specifies the investment options available to plan participants. These options may include various mutual funds, stocks, bonds, and other investment vehicles. Details such as expense ratios, risk profiles, and performance benchmarks may also be outlined. 4. Contribution Guidelines: The agreement establishes guidelines for employee and employer contributions to the retirement savings plan. It may stipulate the percentage of salary that an employee can contribute, any maximum contribution limits, and the eligibility criteria for employer matching contributions, if applicable. 5. Distribution Rules: The agreement outlines the rules and procedures for plan participants to receive distributions from their retirement savings account, including eligibility criteria, withdrawal options, tax implications, and any penalties or restrictions that may apply. It is important to note that the New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement may have different variations depending on the specific terms agreed upon between Polaris Industries, Inc. and Fidelity Management Trust Co. Some potential variations may include changes in investment options, contribution matching formulas, plan eligibility requirements, or plan design features. Therefore, it is crucial for both employers and plan participants to thoroughly review the specific terms and conditions outlined in their respective trust agreements to ensure a clear understanding of their retirement savings plan and its benefits.

The New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement is an essential document that outlines the establishment of a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement ensures the proper management and administration of the retirement savings plan for employees of Polaris Industries, Inc. in New Jersey. The trust agreement serves as a legally binding contract that establishes the roles, responsibilities, and procedures for both Polaris Industries, Inc. and Fidelity Management Trust Co. in administering the 401(k) retirement savings plan. It sets out the terms and conditions, investment options, contribution guidelines, and distribution rules for plan participants. Key elements covered within the New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement include: 1. Establishment of Trust: The agreement clearly outlines the establishment of a trust fund to hold and administer the assets of the retirement savings plan. This ensures that the assets are used solely for the benefit of plan participants and in accordance with the law. 2. Roles and Responsibilities: The agreement clearly defines the roles and responsibilities of both Polaris Industries, Inc. and Fidelity Management Trust Co. Polaris Industries, Inc. acts as the plan sponsor and administrator, responsible for making plan design decisions, employee communication, and contribution management. Fidelity Management Trust Co. serves as the trustee and is responsible for executing investment decisions, record-keeping, and reporting. 3. Investment Options: The agreement specifies the investment options available to plan participants. These options may include various mutual funds, stocks, bonds, and other investment vehicles. Details such as expense ratios, risk profiles, and performance benchmarks may also be outlined. 4. Contribution Guidelines: The agreement establishes guidelines for employee and employer contributions to the retirement savings plan. It may stipulate the percentage of salary that an employee can contribute, any maximum contribution limits, and the eligibility criteria for employer matching contributions, if applicable. 5. Distribution Rules: The agreement outlines the rules and procedures for plan participants to receive distributions from their retirement savings account, including eligibility criteria, withdrawal options, tax implications, and any penalties or restrictions that may apply. It is important to note that the New Jersey Polaris 401(k) Retirement Savings Plan Trust Agreement may have different variations depending on the specific terms agreed upon between Polaris Industries, Inc. and Fidelity Management Trust Co. Some potential variations may include changes in investment options, contribution matching formulas, plan eligibility requirements, or plan design features. Therefore, it is crucial for both employers and plan participants to thoroughly review the specific terms and conditions outlined in their respective trust agreements to ensure a clear understanding of their retirement savings plan and its benefits.