Hawaii Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service

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Multi-State
Control #:
US-EG-9313
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Word; 
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Retirement Plan Transfer Agreement for the Motorola, Inc. Profit Sharing and Investment Plan between Semiconductor Components Industries, LLC and Motorola, Inc. regarding contribution plan meeting requirements of the Internal Revenue Service dated May
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  • Preview Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service
  • Preview Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service
  • Preview Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service
  • Preview Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service
  • Preview Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service

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FAQ

The Hawaii Retirement Savings Program is a state-facilitated payroll-deduction retirement savings plan where individuals can choose to opt into the program. For each enrolled employee a Roth IRA will be established into which contributions deducted from an employee's payroll will be deposited.

Employees who are under age 55 but have a minimum of 25 years of credited service may elect early retirement with reduced benefits. The normal retirement benefit is calculated as follows: 2% x Years of Credited Service x Average Final Compensation (AFC).

It provides retirement, disability, survivor and other benefits to all eligible full-time and part-time State and county employees in the State of Hawaii as well as their beneficiaries. Funding for benefit payments comes from employer and member contributions, and investments. Hawaii Employees' Retirement System - Hawaii.gov ehawaii.gov ehawaii.gov

What are the minimum requirements for service retirement? If you have at least 10 years of credited service AND you are age 62 or older when you leave your job, you can retire with full benefits. If you have at least 30 years of credited service AND you are age 55 or older, you can retire with full benefits.

(Ten years of service makes you a vested member.) If you have at least 25 years of service, you qualify to retire early, at age 55, without paying any penalties. Hawaii Retirement System | SmartAsset SmartAsset ? retirement ? hawaii-retireme... SmartAsset ? retirement ? hawaii-retireme...

Non-Contributory Plan Employees in this plan are eligible to retire at age 62 with a minimum of 10 years of credited service or at age 55 with a minimum 30 years of credited service. Employees at age 55 with 20 years of credited service may elect early retirement with reduced benefits. Employees' Retirement System (ERS) - Hawaii DOE Hawaii Public Schools ? Pages ? ERS Hawaii Public Schools ? Pages ? ERS

Employees contribute 8% of salary out of each paycheck to the pension fund. The average retirement benefit is $30,708 per year, or $2,559 per month. Employees' Retirement System of the State of Hawaii - Key Facts nirsonline.org ? uploads ? 2017/11 ? hawaii nirsonline.org ? uploads ? 2017/11 ? hawaii

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Hawaii Retirement Plan Transfer Agreement regarding contribution plan meeting requirements of the Internal Revenue Service