Retirement agreement 2025

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The document is a Retirement Plan Transfer Agreement between Semiconductor Components Industries, LLC (SCI LLC) and Motorola, Inc. It outlines the transfer of pension plan assets and liabilities from Motorola's defined benefit pension plan to a new plan established by SCI LLC for employees transitioning to SCI LLC. The agreement details the conditions for asset transfer, participant benefits, compliance with IRS regulations, and mutual obligations of both parties.

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Click ‘Get Form’ to open the retirement agreement in the editor.
Begin by filling in the date at the top of the form. This is crucial as it establishes the effective date of the agreement.
Next, provide the names and details of both parties involved: Semiconductor Components Industries, LLC and Motorola, Inc. Ensure all information is accurate to avoid any legal issues.
Review Section 1 regarding the SCI LLC Plan. Here, you will need to confirm that SCI LLC will adopt a plan similar to Motorola's pension plan. Fill in any required fields related to compliance with IRS regulations.
In Section 2, focus on transferring assets from Motorola Plan to SCI LLC Plan. Input necessary calculations for accrued benefits as specified, ensuring you have accurate data from your actuary.
Complete Sections 3 through 12 by providing any additional required information and ensuring all parties agree on terms outlined in these sections.
Finally, sign and date the document electronically using our platform’s signature feature for a seamless completion process.

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What are the three types of retirement?

There are actually 3 different types of retirement: Traditional retirement. Semi-retirement. Temporary retirement.

What is a retirement agreement?

Retirement agreements should include how long an employee must be with a company to receive benefits, how the benefits will be accepted (such as being deducted from a paycheck or given as a bonus at a specific date), and whether an employee could lose these benefits under particular circumstances.

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