Wake North Carolina Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan

• Category: Corporations - Public - Agreements - Transfers
• State: Multi-State
• County: Wake
• 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. The Wake North Carolina Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is an essential document that outlines the process and terms of transferring retirement benefits from the Motorola, Inc. Pension Plan to the Wake North Carolina Retirement Plan. This agreement is designed to facilitate a smooth transition and ensure the continuation of retirement benefits for employees who are eligible for the transfer. Some relevant keywords that may be associated with the Wake North Carolina Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan include: 1. Retirement plan transfer: This refers to the process of moving retirement benefits from one plan to another, in this case, from the Motorola, Inc. Pension Plan to the Wake North Carolina Retirement Plan. 2. Motorola, Inc. Pension Plan: This represents the original pension plan provided by Motorola, Inc. to its employees. The transfer agreement pertains specifically to this plan. 3. Wake North Carolina Retirement Plan: This refers to the alternative retirement plan maintained by the state of North Carolina for its employees. The transfer agreement governs the movement of benefits to this plan. 4. Agreement terms and conditions: This section of the transfer agreement outlines the rules and regulations that both the employee and the retirement plans must abide by during the transfer process. 5. Eligibility criteria: This specifies the requirements that an employee must meet to be eligible for the retirement benefits transfer. Such criteria may include years of service, age, or other factors. 6. Benefit calculation methodology: This section explains how the retirement benefits will be calculated and transferred between the two plans. It may include considerations such as final salary, years of service, and any cost-of-living adjustments. 7. Vesting rights: This term refers to an employee's right to receive all or part of the employer's contribution to their retirement benefits. The agreement may stipulate how the vesting rights will be preserved or adjusted through the transfer process. 8. Lump-sum or annuity options: Depending on the terms of the agreement, employees may have the choice to receive their transferred benefits as a lump sum or as periodic annuity payments. 9. Employee communications: This refers to the obligations of both the Motorola, Inc. Pension Plan and the Wake North Carolina Retirement Plan to communicate with employees about the transfer process, including providing necessary documents, information, and any deadlines. 10. Plan termination provisions: In the case that the Motorola, Inc. Pension Plan is terminated, the agreement may outline provisions for the transfer of pension benefits to the Wake North Carolina Retirement Plan without any interruption to the employee's retirement benefits. Different types of Wake North Carolina Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan may exist based on various factors such as different groups of employees, specific eligibility requirements, or different timelines for the transfer process. However, without specific information regarding the existence of such variations, it is not possible to provide their specific names or details.

The Wake North Carolina Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan is an essential document that outlines the process and terms of transferring retirement benefits from the Motorola, Inc. Pension Plan to the Wake North Carolina Retirement Plan. This agreement is designed to facilitate a smooth transition and ensure the continuation of retirement benefits for employees who are eligible for the transfer. Some relevant keywords that may be associated with the Wake North Carolina Retirement Plan Transfer Agreement for the Motorola, Inc. Pension Plan include: 1. Retirement plan transfer: This refers to the process of moving retirement benefits from one plan to another, in this case, from the Motorola, Inc. Pension Plan to the Wake North Carolina Retirement Plan. 2. Motorola, Inc. Pension Plan: This represents the original pension plan provided by Motorola, Inc. to its employees. The transfer agreement pertains specifically to this plan. 3. Wake North Carolina Retirement Plan: This refers to the alternative retirement plan maintained by the state of North Carolina for its employees. The transfer agreement governs the movement of benefits to this plan. 4. Agreement terms and conditions: This section of the transfer agreement outlines the rules and regulations that both the employee and the retirement plans must abide by during the transfer process. 5. Eligibility criteria: This specifies the requirements that an employee must meet to be eligible for the retirement benefits transfer. Such criteria may include years of service, age, or other factors. 6. Benefit calculation methodology: This section explains how the retirement benefits will be calculated and transferred between the two plans. It may include considerations such as final salary, years of service, and any cost-of-living adjustments. 7. Vesting rights: This term refers to an employee's right to receive all or part of the employer's contribution to their retirement benefits. The agreement may stipulate how the vesting rights will be preserved or adjusted through the transfer process. 8. Lump-sum or annuity options: Depending on the terms of the agreement, employees may have the choice to receive their transferred benefits as a lump sum or as periodic annuity payments. 9. Employee communications: This refers to the obligations of both the Motorola, Inc. Pension Plan and the Wake North Carolina Retirement Plan to communicate with employees about the transfer process, including providing necessary documents, information, and any deadlines. 10. Plan termination provisions: In the case that the Motorola, Inc. Pension Plan is terminated, the agreement may outline provisions for the transfer of pension benefits to the Wake North Carolina Retirement Plan without any interruption to the employee's retirement benefits. Different types of Wake North Carolina Retirement Plan Transfer Agreements for the Motorola, Inc. Pension Plan may exist based on various factors such as different groups of employees, specific eligibility requirements, or different timelines for the transfer process. However, without specific information regarding the existence of such variations, it is not possible to provide their specific names or details.