Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding establishment of trust

• Category: Corporations - Public - Agreements - Trusts
• State: Multi-State
• County: Collin
• Control #: US-EG-9323
• Format: Word; Rich Text

Description

Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Company regarding the establishment of a trust to hold and invest Plan assets under the Plan for the exclusive benefit of participants The Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement is a legally binding document that establishes a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. The purpose of this agreement is to outline the terms and conditions surrounding the establishment and management of the retirement savings plan trust. Under this agreement, Polaris Industries, Inc. acts as the plan sponsor and fiduciary, responsible for administering the retirement savings plan for its employees. Fidelity Management Trust Co. serves as the trustee, entrusted with the management of the plan assets and ensuring compliance with applicable laws and regulations. The main objective of the Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement is to provide a vehicle for employees to save and invest funds for retirement. It allows eligible employees to contribute a portion of their salary, on a pre-tax or post-tax basis, towards their retirement savings. The contributions are then invested according to the investment options available under the plan. In addition to the establishment of the trust, the agreement also outlines various provisions, including but not limited to: 1. Eligibility requirements: The agreement specifies the criteria employees must meet to participate in the plan, such as age and length of employment. 2. Contribution limits: The agreement establishes the maximum allowable contribution limits, as determined by the Internal Revenue Service (IRS) guidelines. 3. Vesting schedule: The agreement may include a vesting schedule that outlines the percentage of employer contributions that become vested over time, ensuring the employees are entitled to their employer's contributions upon meeting certain conditions. 4. Investment options: The agreement will outline the investment options available to plan participants, such as various mutual funds or target-date funds, allowing employees to diversify their retirement savings. 5. Distribution rules: The agreement will specify the rules and restrictions surrounding the distribution of funds, including eligibility for hardship withdrawals, loans, and the process for receiving distributions post-retirement. It is important to note that the Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement may have variations or additional provisions tailored to the specific needs and objectives of Polaris Industries, Inc. and its employees. These variations can be designed to suit the company's unique retirement plan needs or comply with changing legal and regulatory requirements. By establishing this trust agreement, Polaris Industries, Inc. and Fidelity Management Trust Co. provide a framework for plan participants to save for retirement while ensuring that the plan is managed in accordance with industry best practices and legal requirements. This collaborative effort helps employees secure their financial future, supported by the expertise and experience of Fidelity Management Trust Co. as the trustee.

The Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement is a legally binding document that establishes a trust between Polaris Industries, Inc. and Fidelity Management Trust Co. The purpose of this agreement is to outline the terms and conditions surrounding the establishment and management of the retirement savings plan trust. Under this agreement, Polaris Industries, Inc. acts as the plan sponsor and fiduciary, responsible for administering the retirement savings plan for its employees. Fidelity Management Trust Co. serves as the trustee, entrusted with the management of the plan assets and ensuring compliance with applicable laws and regulations. The main objective of the Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement is to provide a vehicle for employees to save and invest funds for retirement. It allows eligible employees to contribute a portion of their salary, on a pre-tax or post-tax basis, towards their retirement savings. The contributions are then invested according to the investment options available under the plan. In addition to the establishment of the trust, the agreement also outlines various provisions, including but not limited to: 1. Eligibility requirements: The agreement specifies the criteria employees must meet to participate in the plan, such as age and length of employment. 2. Contribution limits: The agreement establishes the maximum allowable contribution limits, as determined by the Internal Revenue Service (IRS) guidelines. 3. Vesting schedule: The agreement may include a vesting schedule that outlines the percentage of employer contributions that become vested over time, ensuring the employees are entitled to their employer's contributions upon meeting certain conditions. 4. Investment options: The agreement will outline the investment options available to plan participants, such as various mutual funds or target-date funds, allowing employees to diversify their retirement savings. 5. Distribution rules: The agreement will specify the rules and restrictions surrounding the distribution of funds, including eligibility for hardship withdrawals, loans, and the process for receiving distributions post-retirement. It is important to note that the Collin Texas Polaris 401(k) Retirement Savings Plan Trust Agreement may have variations or additional provisions tailored to the specific needs and objectives of Polaris Industries, Inc. and its employees. These variations can be designed to suit the company's unique retirement plan needs or comply with changing legal and regulatory requirements. By establishing this trust agreement, Polaris Industries, Inc. and Fidelity Management Trust Co. provide a framework for plan participants to save for retirement while ensuring that the plan is managed in accordance with industry best practices and legal requirements. This collaborative effort helps employees secure their financial future, supported by the expertise and experience of Fidelity Management Trust Co. as the trustee.