The Oregon Polaris 401(k) Retirement Savings Plan Trust Agreement is a legally binding contract between Polaris Industries, Inc. and Fidelity Management Trust Co. that aims to establish a trust for the purpose of administering retirement savings plans for Polaris employees in Oregon. This agreement outlines the terms and conditions, responsibilities, and obligations of both parties involved in managing the trust. The trust agreement is designed to ensure that Polaris Industries, Inc. provides a secure and reliable retirement savings plan for its employees, allowing them to save for their future financial security. By partnering with Fidelity Management Trust Co., a reputable and experienced trust management company, Polaris aims to enhance the trust's effectiveness and efficiency. Under the Oregon Polaris 401(k) Retirement Savings Plan Trust Agreement, Fidelity Management Trust Co. will oversee the investment, administration, and distribution of funds within the trust. This includes ensuring compliance with applicable laws, regulations, and industry best practices, as well as providing comprehensive reporting on the trust's performance and financial status. Additionally, the trust agreement may outline different types of retirement savings plans within the overall framework. Some possible variations of the Oregon Polaris 401(k) Retirement Savings Plan Trust Agreement could include: 1. Traditional 401(k) Plan: This type of plan allows employees to contribute a portion of their pre-tax income into the trust, with contributions, earnings, and gains taxed upon withdrawal during retirement. 2. Roth 401(k) Plan: This variation combines elements of a traditional 401(k) plan with a Roth Individual Retirement Account (IRA). Employees can make after-tax contributions to the plan, and withdrawals during retirement are typically tax-free. 3. Safe Harbor 401(k) Plan: This plan provides additional benefits to employers by automatically passing certain nondiscrimination tests, ensuring that higher-paid employees do not disproportionately benefit from the plan. 4. 401(k) Profit Sharing Plan: This type of plan includes provisions for profit-sharing contributions from the employer. In addition to employee contributions, employers can make discretionary contributions based on the company's profits. 5. 401(k) Target-Date Fund Plan: This plan offers a professionally managed investment portfolio that adjusts its asset allocation based on the employee's intended retirement date. The fund gradually shifts from riskier to more conservative investments as the retirement date approaches. These variations in the Oregon Polaris 401(k) Retirement Savings Plan Trust Agreement cater to different employee preferences and circumstances, providing options for retirement savings that align with individual goals and objectives.
Oregon Polaris 401(k) Retirement Savings Plan Trust Agreement between Polaris Industries, Inc. and Fidelity Management Trust Co. regarding establishment of trust
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How to fill out Oregon Polaris 401(k) Retirement Savings Plan Trust Agreement Between Polaris Industries, Inc. And Fidelity Management Trust Co. Regarding Establishment Of Trust?
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FAQ
An Individual 401(k) plan is available to self-employed individuals and business owners, including sole proprietors, corporations, partnerships, and tax-exempt organizations with no employees other than a spouse. You must have a minimum 5% business share to be eligible.
When you retire, you have several options for your 401(k) savings, including leaving the money in the plan, transferring it to an IRA, withdrawing a lump sum, converting it into an annuity, or taking required minimum distributions at age 73.
Trust Agreement The trustee essentially has legal title to the plan assets. The plan's assets are protected from the creditors of the Plan Sponsor. As such, if the employer was to become financially insolvent, the assets would be available to the plan participants and their beneficiaries.
Since your 401(k) is a non-probate asset, you shouldn't include it in your last will and testament. Even if you did, whoever you name in your beneficiary designation form will override it.
How to move your old 401(k) into a rollover IRA Step 1: Set up your new account. ... Step 2: Contact your old 401(k) provider. ... Step 3: Deposit your money into your Fidelity account. ... Step 4: Invest your money.
Please call a Fidelity retirement professional at 800-544-5373. Complete this application to establish a Fidelity Retirement Plan account.
What are Average Fidelity 401(k) Fees? Average Fidelity 401(k) FeesAvg. Plan Assets$4,007,011.94Avg. Plan Participants46Per-Capita Admin Fees$309.63All-In Fees0.71%
Call a retirement specialist at 800-544-5373, and say "retirement representative," to get help with a rollover into a Fidelity Self-Employed 401(k).