Puerto Rico 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 Puerto Rico Polaris 401(k) Retirement Savings Plan Trust Agreement is a legal document that delineates the establishment and operating terms of the trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement is specifically designed for employees of Polaris Industries, Inc. who wish to save for retirement in a tax-advantaged manner. The trust agreement serves as a fiduciary framework, ensuring that the retirement savings of the employees are managed and safeguarded according to specific rules and regulations. The agreement outlines the responsibilities and obligations of both parties involved in administering the trust, Polaris Industries, Inc. as the plan sponsor, and Fidelity Management Trust Co. as the appointed trustee. Key components and provisions covered in the Puerto Rico Polaris 401(k) Retirement Savings Plan Trust Agreement include: 1. Establishment and Purpose: This section delineates the primary objective and purpose of the trust, specifically focusing on providing retirement benefits to eligible employees of Polaris Industries, Inc. 2. Trustee Appointment: Details how the appointment of Fidelity Management Trust Co. as the trustee was made, outlining the trustee's responsibilities in overseeing investment management and administration. 3. Contribution Mechanisms: Describes the different methods by which employees can contribute to the trust, whether through salary deferrals, company matches, or other contribution arrangements. 4. Investment Options: Specifies the investment options available to participants, such as mutual funds, target-date funds, or employer stock options, along with the corresponding procedures for selecting and reallocating investments. 5. Vesting and Distribution: Outlines the schedule for vesting of the employer contributions and the conditions under which participants may be eligible for distributions, including retirement, disability, or termination of employment. 6. Plan Amendments and Termination: Explains the process for making amendments to the trust agreement and the possible termination of the plan, addressing the necessary steps and communication requirements. 7. Compliance and Reporting: Stipulates the compliance obligations of both parties regarding regulatory requirements, disclosure of plan information, and the provision of annual reports to plan participants. It is worth noting that while the Puerto Rico Polaris 401(k) Retirement Savings Plan Trust Agreement is specific to Polaris Industries, Inc. and Fidelity Management Trust Co., similar types of retirement savings plan trust agreements may exist between other employers and financial institutions. These agreements are tailored to meet the specific needs and objectives of the respective organizations.

The Puerto Rico Polaris 401(k) Retirement Savings Plan Trust Agreement is a legal document that delineates the establishment and operating terms of the trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement is specifically designed for employees of Polaris Industries, Inc. who wish to save for retirement in a tax-advantaged manner. The trust agreement serves as a fiduciary framework, ensuring that the retirement savings of the employees are managed and safeguarded according to specific rules and regulations. The agreement outlines the responsibilities and obligations of both parties involved in administering the trust, Polaris Industries, Inc. as the plan sponsor, and Fidelity Management Trust Co. as the appointed trustee. Key components and provisions covered in the Puerto Rico Polaris 401(k) Retirement Savings Plan Trust Agreement include: 1. Establishment and Purpose: This section delineates the primary objective and purpose of the trust, specifically focusing on providing retirement benefits to eligible employees of Polaris Industries, Inc. 2. Trustee Appointment: Details how the appointment of Fidelity Management Trust Co. as the trustee was made, outlining the trustee's responsibilities in overseeing investment management and administration. 3. Contribution Mechanisms: Describes the different methods by which employees can contribute to the trust, whether through salary deferrals, company matches, or other contribution arrangements. 4. Investment Options: Specifies the investment options available to participants, such as mutual funds, target-date funds, or employer stock options, along with the corresponding procedures for selecting and reallocating investments. 5. Vesting and Distribution: Outlines the schedule for vesting of the employer contributions and the conditions under which participants may be eligible for distributions, including retirement, disability, or termination of employment. 6. Plan Amendments and Termination: Explains the process for making amendments to the trust agreement and the possible termination of the plan, addressing the necessary steps and communication requirements. 7. Compliance and Reporting: Stipulates the compliance obligations of both parties regarding regulatory requirements, disclosure of plan information, and the provision of annual reports to plan participants. It is worth noting that while the Puerto Rico Polaris 401(k) Retirement Savings Plan Trust Agreement is specific to Polaris Industries, Inc. and Fidelity Management Trust Co., similar types of retirement savings plan trust agreements may exist between other employers and financial institutions. These agreements are tailored to meet the specific needs and objectives of the respective organizations.