Nassau New York Executive Retirement Agreement of Georgia Pacific Corp.

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Nassau
• Control #: US-CC-21-127
• Format: Word; Rich Text

Description

This sample form, a detailed Executive Retirement Agreement document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Nassau New York Executive Retirement Agreement of Georgia Pacific Corp., often shortened as the Nassau NY Executive Retirement Agreement, is a legally binding contract offered to eligible executives at Georgia Pacific Corp. based in Nassau County, New York. This agreement outlines the terms and conditions for executive retirement, ensuring a fair and secure transition for high-ranking employees approaching their retirement age. The Nassau NY Executive Retirement Agreement encompasses several types, each suited to cater to the specific needs and circumstances of different executives within Georgia Pacific Corp. Some common types include: 1. Defined Benefit Pension Plan: This retirement agreement provides executives with a fixed monthly income based on factors like salary history, length of service, and other relevant criteria. The benefits received under this agreement are predetermined and do not depend on the executive's investment performance. 2. Deferred Compensation Plan: This type of agreement allows executives to defer a portion of their salary or annual bonuses until retirement. The deferred amounts are invested, providing potential for capital growth over time. Executives can choose different investment options available within the plan to suit their risk appetite. 3. Executive Stock Ownership Plan (ESOP): This agreement offers eligible executives the opportunity to acquire shares of Georgia Pacific Corp. stock at a favorable price, often at a discount. These shares are typically held in a trust until the executive's retirement, ensuring long-term value appreciation and potential dividend income. 4. Supplementary Executive Retirement Plan (SERP): The SERP is aimed at executives who have already reached the maximum compensation limit set by the Internal Revenue Code for retirement plans such as the defined benefit plan. It allows executives to receive additional retirement benefits, which are determined based on factors like years of service and average compensation. The Nassau NY Executive Retirement Agreement of Georgia Pacific Corp. primarily aims to provide executives with financial security and peace of mind as they transition into retirement. It ensures that executives who have played significant roles in the company's success are rewarded for their dedication and investment in the organization. Executives who qualify for this agreement will receive comprehensive information regarding their eligibility, vesting periods, retirement age, benefit calculations, and any other relevant details essential to make informed decisions about their retirement planning. Keywords: Nassau New York, Executive Retirement Agreement, Georgia Pacific Corp., retirement, executives, defined benefit pension plan, deferred compensation plan, executive stock ownership plan, supplementary executive retirement plan, financial security.

The Nassau New York Executive Retirement Agreement of Georgia Pacific Corp., often shortened as the Nassau NY Executive Retirement Agreement, is a legally binding contract offered to eligible executives at Georgia Pacific Corp. based in Nassau County, New York. This agreement outlines the terms and conditions for executive retirement, ensuring a fair and secure transition for high-ranking employees approaching their retirement age. The Nassau NY Executive Retirement Agreement encompasses several types, each suited to cater to the specific needs and circumstances of different executives within Georgia Pacific Corp. Some common types include: 1. Defined Benefit Pension Plan: This retirement agreement provides executives with a fixed monthly income based on factors like salary history, length of service, and other relevant criteria. The benefits received under this agreement are predetermined and do not depend on the executive's investment performance. 2. Deferred Compensation Plan: This type of agreement allows executives to defer a portion of their salary or annual bonuses until retirement. The deferred amounts are invested, providing potential for capital growth over time. Executives can choose different investment options available within the plan to suit their risk appetite. 3. Executive Stock Ownership Plan (ESOP): This agreement offers eligible executives the opportunity to acquire shares of Georgia Pacific Corp. stock at a favorable price, often at a discount. These shares are typically held in a trust until the executive's retirement, ensuring long-term value appreciation and potential dividend income. 4. Supplementary Executive Retirement Plan (SERP): The SERP is aimed at executives who have already reached the maximum compensation limit set by the Internal Revenue Code for retirement plans such as the defined benefit plan. It allows executives to receive additional retirement benefits, which are determined based on factors like years of service and average compensation. The Nassau NY Executive Retirement Agreement of Georgia Pacific Corp. primarily aims to provide executives with financial security and peace of mind as they transition into retirement. It ensures that executives who have played significant roles in the company's success are rewarded for their dedication and investment in the organization. Executives who qualify for this agreement will receive comprehensive information regarding their eligibility, vesting periods, retirement age, benefit calculations, and any other relevant details essential to make informed decisions about their retirement planning. Keywords: Nassau New York, Executive Retirement Agreement, Georgia Pacific Corp., retirement, executives, defined benefit pension plan, deferred compensation plan, executive stock ownership plan, supplementary executive retirement plan, financial security.