The Oakland Michigan Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a legal document that outlines the terms and conditions for transferring retirement plan assets for employees of Motorola, Inc. who are based in Oakland, Michigan. The purpose of this agreement is to facilitate the smooth transfer of retirement plan funds from the Motorola, Inc. Pension Plan to the designated retirement plan of the employees in Oakland, Michigan. This transfer may occur due to various reasons such as changing jobs, retirement, or other circumstances that warrant a transfer of retirement funds. The agreement ensures that the transfer is conducted in accordance with the laws and regulations governing retirement plans, as well as the specific provisions and requirements set forth by Motorola, Inc. and the retirement plan in question. It aims to protect the interests of the employees and ensure that their retirement funds are properly and securely transferred. There may be different types of Oakland Michigan Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan, depending on the specific requirements and circumstances of the employee. For example: 1. Voluntary Transfer Agreement: This type of agreement may be initiated by employees who choose to transfer their retirement plan assets to another eligible plan voluntarily. 2. Involuntary Transfer Agreement: In some cases, an employee's retirement plan assets may be transferred to another plan without their consent due to company mergers, acquisitions, or other corporate changes. This type of agreement outlines the terms and conditions of such involuntary transfers. 3. Rollover Transfer Agreement: When an employee leaves Motorola, Inc. and wishes to roll over their retirement plan assets into an Individual Retirement Account (IRA) or another eligible retirement plan, a rollover transfer agreement may be used. This agreement specifies the details of the rollover process and the parties involved. In conclusion, the Oakland Michigan Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is a crucial document that ensures the proper and compliant transfer of retirement plan assets for employees based in Oakland, Michigan. It provides a legal framework for the transfer process and safeguards the rights and interests of the transferring employees and the receiving retirement plan.