Los Angeles California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan

• Category: Corporations - Public - Agreements - Transfers
• State: Multi-State
• County: Los Angeles
• 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. Los Angeles California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legally binding document that outlines the transfer process for employees' retirement funds from the Motorola, Inc. Pension Plan to a retirement plan based in Los Angeles, California. This agreement is specific to employees who have worked for Motorola, Inc. and are planning to retire in the Los Angeles area. The Retirement Plan Transfer Agreement aims to provide a smooth and efficient transition for individuals looking to transfer their pension benefits. It ensures that employees can seamlessly move their retirement savings into a new retirement plan based in Los Angeles, while adhering to the relevant laws and regulations. This comprehensive agreement encompasses various aspects, including the details of the transfer process, specific terms and conditions, eligibility criteria, and the rights and obligations of both parties involved. It covers the necessary steps to be followed, the documentation required, and the timeline for completion. The agreement may also include provisions for different types of transfers within the Los Angeles California Retirement Plan for the Motorola, Inc. Pension Plan. Some possible variations of transfers could be: 1. Lump-sum transfer: Employees can choose to transfer their entire pension balance in one lump sum to the new retirement plan in Los Angeles. This option provides individuals with full control over their retirement funds, allowing flexibility to manage and invest the transferred amount as they see fit. 2. Annuity transfer: Employees may opt for an annuity transfer, where their pension benefits are converted into a series of regular payments over their retirement period. This type of transfer ensures a steady income stream for retirees, providing financial security throughout their retirement years. 3. Partial transfer: In certain cases, employees may have the option to transfer only a portion of their pension balance to the Los Angeles retirement plan. This flexibility allows individuals to retain some funds in their original plan or explore alternative investment options. It is important for both retirees and the Motorola, Inc. Pension Plan administrators to thoroughly review and understand the terms within the Retirement Plan Transfer Agreement to ensure compliance and a smooth transfer process. Consulting with legal and financial professionals is advisable to ensure that the agreement aligns with the specific needs and goals of the retirees.

Los Angeles California Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legally binding document that outlines the transfer process for employees' retirement funds from the Motorola, Inc. Pension Plan to a retirement plan based in Los Angeles, California. This agreement is specific to employees who have worked for Motorola, Inc. and are planning to retire in the Los Angeles area. The Retirement Plan Transfer Agreement aims to provide a smooth and efficient transition for individuals looking to transfer their pension benefits. It ensures that employees can seamlessly move their retirement savings into a new retirement plan based in Los Angeles, while adhering to the relevant laws and regulations. This comprehensive agreement encompasses various aspects, including the details of the transfer process, specific terms and conditions, eligibility criteria, and the rights and obligations of both parties involved. It covers the necessary steps to be followed, the documentation required, and the timeline for completion. The agreement may also include provisions for different types of transfers within the Los Angeles California Retirement Plan for the Motorola, Inc. Pension Plan. Some possible variations of transfers could be: 1. Lump-sum transfer: Employees can choose to transfer their entire pension balance in one lump sum to the new retirement plan in Los Angeles. This option provides individuals with full control over their retirement funds, allowing flexibility to manage and invest the transferred amount as they see fit. 2. Annuity transfer: Employees may opt for an annuity transfer, where their pension benefits are converted into a series of regular payments over their retirement period. This type of transfer ensures a steady income stream for retirees, providing financial security throughout their retirement years. 3. Partial transfer: In certain cases, employees may have the option to transfer only a portion of their pension balance to the Los Angeles retirement plan. This flexibility allows individuals to retain some funds in their original plan or explore alternative investment options. It is important for both retirees and the Motorola, Inc. Pension Plan administrators to thoroughly review and understand the terms within the Retirement Plan Transfer Agreement to ensure compliance and a smooth transfer process. Consulting with legal and financial professionals is advisable to ensure that the agreement aligns with the specific needs and goals of the retirees.