Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan

• Category: Corporations - Public - Agreements - Transfers
• State: Multi-State
• County: Allegheny
• 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. Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan: The Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan, also known as the Allegheny PA Retirement Plan Transfer Agreement, is a legal document that outlines the procedures, terms, and conditions of transferring retirement benefits from the Motorola, Inc. Pension Plan to the Allegheny Pennsylvania Retirement Plan. This agreement is applicable to eligible employees of Motorola, Inc. who decide to retire and transfer their pension benefits to the Allegheny Pennsylvania Retirement Plan, which is a retirement plan specifically designed for residents of Pennsylvania. The Allegheny Pennsylvania Retirement Plan Transfer Agreement is designed to ensure a smooth and seamless transfer of pension benefits, providing retirees with a comprehensive retirement package tailored to their individual needs. By transferring to the Allegheny PA Retirement Plan, retirees can take advantage of the plan's unique features and benefits, such as specialized investment options, taxation considerations, and potential state-specific incentives. Different types of Allegheny Pennsylvania Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan may include: 1. Lump Sum Transfer Agreement: This type of transfer agreement allows retirees to receive their pension benefits from the Motorola, Inc. Pension Plan as a lump sum payment, which is then directly rolled over into the Allegheny Pennsylvania Retirement Plan. This option provides retirees with more control over their funds and enables them to make investment choices that align with their retirement objectives. 2. Annuity Transfer Agreement: With this type of transfer agreement, retirees can convert their pension benefits from the Motorola, Inc. Pension Plan into a stream of regular income payments provided by the Allegheny Pennsylvania Retirement Plan. This option ensures a steady and predictable flow of funds throughout retirement, enabling retirees to budget and plan their expenses effectively. 3. Partial Transfer Agreement: In some cases, retirees may choose to transfer only a portion of their pension benefits from the Motorola, Inc. Pension Plan to the Allegheny Pennsylvania Retirement Plan. A partial transfer agreement provides flexibility, allowing retirees to keep some benefits with their existing plan while taking advantage of the unique features offered by the Allegheny Pennsylvania Retirement Plan. The Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan serves as a legally binding contract that safeguards the interests of both parties involved in the transfer process. It outlines the responsibilities, rights, and obligations of the transferring employee, Motorola, Inc., and the Allegheny Pennsylvania Retirement Plan, ensuring a fair and transparent process for all parties. By offering retirees a choice to transfer their pension benefits to the Allegheny Pennsylvania Retirement Plan, Motorola, Inc. aims to provide its employees with greater flexibility, enhanced retirement options, and the potential for added financial security during their post-employment years.

Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan: The Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan, also known as the Allegheny PA Retirement Plan Transfer Agreement, is a legal document that outlines the procedures, terms, and conditions of transferring retirement benefits from the Motorola, Inc. Pension Plan to the Allegheny Pennsylvania Retirement Plan. This agreement is applicable to eligible employees of Motorola, Inc. who decide to retire and transfer their pension benefits to the Allegheny Pennsylvania Retirement Plan, which is a retirement plan specifically designed for residents of Pennsylvania. The Allegheny Pennsylvania Retirement Plan Transfer Agreement is designed to ensure a smooth and seamless transfer of pension benefits, providing retirees with a comprehensive retirement package tailored to their individual needs. By transferring to the Allegheny PA Retirement Plan, retirees can take advantage of the plan's unique features and benefits, such as specialized investment options, taxation considerations, and potential state-specific incentives. Different types of Allegheny Pennsylvania Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan may include: 1. Lump Sum Transfer Agreement: This type of transfer agreement allows retirees to receive their pension benefits from the Motorola, Inc. Pension Plan as a lump sum payment, which is then directly rolled over into the Allegheny Pennsylvania Retirement Plan. This option provides retirees with more control over their funds and enables them to make investment choices that align with their retirement objectives. 2. Annuity Transfer Agreement: With this type of transfer agreement, retirees can convert their pension benefits from the Motorola, Inc. Pension Plan into a stream of regular income payments provided by the Allegheny Pennsylvania Retirement Plan. This option ensures a steady and predictable flow of funds throughout retirement, enabling retirees to budget and plan their expenses effectively. 3. Partial Transfer Agreement: In some cases, retirees may choose to transfer only a portion of their pension benefits from the Motorola, Inc. Pension Plan to the Allegheny Pennsylvania Retirement Plan. A partial transfer agreement provides flexibility, allowing retirees to keep some benefits with their existing plan while taking advantage of the unique features offered by the Allegheny Pennsylvania Retirement Plan. The Allegheny Pennsylvania Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan serves as a legally binding contract that safeguards the interests of both parties involved in the transfer process. It outlines the responsibilities, rights, and obligations of the transferring employee, Motorola, Inc., and the Allegheny Pennsylvania Retirement Plan, ensuring a fair and transparent process for all parties. By offering retirees a choice to transfer their pension benefits to the Allegheny Pennsylvania Retirement Plan, Motorola, Inc. aims to provide its employees with greater flexibility, enhanced retirement options, and the potential for added financial security during their post-employment years.