South Dakota 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 South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreement is a legal document that establishes a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement outlines the terms, conditions, and responsibilities associated with managing and distributing retirement savings for eligible employees of Polaris Industries. The purpose of the trust agreement is to provide a secure and organized structure for employees to save and invest for their retirement. By establishing a trust, Polaris Industries ensures that the retirement savings of its employees are managed professionally and in compliance with applicable laws and regulations. The South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreement specifies the roles and responsibilities of both Polaris Industries and Fidelity Management Trust Co. Polaris Industries acts as the plan sponsor and fiduciary, responsible for administering and overseeing the plan. Fidelity Management Trust Co., on the other hand, serves as the trustee, responsible for managing the investment options and assets of the plan. Within the South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreement, there may be different types or provisions based on the specific needs and preferences of Polaris Industries and its employees. These may include different contribution options, vesting schedules, and investment choices. Some potential types of South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreements between Polaris Industries and Fidelity Management Trust Co. regarding the establishment of trust could include: 1. Traditional 401(k) Plan: This type of plan allows employees to make tax-deferred contributions from their salary, up to certain limits set by the Internal Revenue Service (IRS). The contributions are invested according to the employee's investment choices, and the earnings grow tax-free until withdrawn during retirement. 2. Roth 401(k) Plan: Similar to a traditional 401(k) plan, but contributions are made on an after-tax basis. Withdrawals during retirement are tax-free, as long as certain IRS requirements are met. This option allows employees to potentially benefit from tax-free growth. 3. Safe Harbor 401(k) Plan: This type of plan helps employers meet certain nondiscrimination testing requirements set by the IRS. It requires the employer to make contributions to employees' accounts, either as a matching contribution or a non-elective contribution, regardless of whether employees contribute to their own accounts. 4. Profit-Sharing 401(k) Plan: This plan combines elements of a traditional 401(k) plan with profit-sharing contributions from the employer. Employers can choose to make contributions based on profits or other predetermined formulas, which can provide an additional retirement benefit to employees. These are just some examples of potential South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreements. The specific terms and provisions within each agreement may vary depending on the needs and preferences of Polaris Industries and its employees.

The South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreement is a legal document that establishes a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. This agreement outlines the terms, conditions, and responsibilities associated with managing and distributing retirement savings for eligible employees of Polaris Industries. The purpose of the trust agreement is to provide a secure and organized structure for employees to save and invest for their retirement. By establishing a trust, Polaris Industries ensures that the retirement savings of its employees are managed professionally and in compliance with applicable laws and regulations. The South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreement specifies the roles and responsibilities of both Polaris Industries and Fidelity Management Trust Co. Polaris Industries acts as the plan sponsor and fiduciary, responsible for administering and overseeing the plan. Fidelity Management Trust Co., on the other hand, serves as the trustee, responsible for managing the investment options and assets of the plan. Within the South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreement, there may be different types or provisions based on the specific needs and preferences of Polaris Industries and its employees. These may include different contribution options, vesting schedules, and investment choices. Some potential types of South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreements between Polaris Industries and Fidelity Management Trust Co. regarding the establishment of trust could include: 1. Traditional 401(k) Plan: This type of plan allows employees to make tax-deferred contributions from their salary, up to certain limits set by the Internal Revenue Service (IRS). The contributions are invested according to the employee's investment choices, and the earnings grow tax-free until withdrawn during retirement. 2. Roth 401(k) Plan: Similar to a traditional 401(k) plan, but contributions are made on an after-tax basis. Withdrawals during retirement are tax-free, as long as certain IRS requirements are met. This option allows employees to potentially benefit from tax-free growth. 3. Safe Harbor 401(k) Plan: This type of plan helps employers meet certain nondiscrimination testing requirements set by the IRS. It requires the employer to make contributions to employees' accounts, either as a matching contribution or a non-elective contribution, regardless of whether employees contribute to their own accounts. 4. Profit-Sharing 401(k) Plan: This plan combines elements of a traditional 401(k) plan with profit-sharing contributions from the employer. Employers can choose to make contributions based on profits or other predetermined formulas, which can provide an additional retirement benefit to employees. These are just some examples of potential South Dakota Polaris 401(k) Retirement Savings Plan Trust Agreements. The specific terms and provisions within each agreement may vary depending on the needs and preferences of Polaris Industries and its employees.