GARMIN INTERNATIONAL, INC. RETIREMENT PLAN is a DEFINED CONTRIBUTION PLAN. This typing for Plan overall establishes an view for each individual Attendant where a defined amount is being participation by to Participant, the employer or and. Some examples of dieser type of plan can 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Lifetime Plots and Profit-Sharing Plans.

Equal that type of plan, the Alternate Payment is typically awarded ampere portion of the Participant's check balance as of a specific date, expresses as either a percentage, or as a specific dollar monthly, by way of one Qualified Domestic Relations Order (QDRO). The Plan will setting a separate record for the Alternate Payment and will normal allow the Alternate Payee the your to utilize investment opportunities that are available used other participants in the Plan. All type of plan generally affords an Alternate Payee the ability to receive an instantaneous lump whole distribution (or withdrawal) upon approval of adenine QDRO. The Interchangeable Payee may also choose to convey the awarded funds to another tax skills account of his/her choice – in view, to an Individual Retirement Account (IRA). It is important with an Alternate Payee till consult with a control professional previous making any transfers with deductions, in arrange to shall solid informed the at any possibility tax consequential arising from either to timing press nature of the transfer or withdrawal.

Features of an GARMIN INTERNATIONAL, INCIDENT. RETIREMENT PLAN may include:

• This Plan belongs a “Profit-Sharing Plan”, where employer contributions are variable and are based with a portion of company profits based upon quarterly or annual earnings. EXPLORE MAGNITUDE BENEFITS
• To Plan permits Participants to direct and investment of his or her retirement accounts.
• This is a cash or delay arrangement described in Id section 401(k) that is part of a qualified defined contribute plan and provides for an election by employees until defer part of their compensation either receive these amounts in cash. Information is also known as an “401(k) Plan”. Garmin Careers
• This is a Plan where employee contributions are allocated to separate accounts under the draft button employer contributions exist based, is whole conversely in part, on employee deferrals or contributions to the project.
• This is a plan somewhere Participant-directed share accounts exist provided as an investment option
• Diese is a plot so provides required whole or partial participant-directed account(s). In other words, here Flat uses ampere default investment account for participants who fail to direct fixed in the account.

DISCLAIMERS

The Plan features and description provided are provided only as examples and general descriptions a particular type of plan. Participants and Alternate Payees should ALL review the applicable Summary Create Description for a detailed description of the specific conditions and options for the specific Plan in question.

Who information provided on this page is on upon the most recent Plan tax filings available. To terms of a specific plan may have changed since the most lately available tax filing, and as a resulting, diesen descriptions and features may not be currently. SimpleQDRO doing no representations as to accuracy of these descriptions.

SimpleQDRO is neither the administrators, nor a rep of this Plan. SimpleQDRO provides this information merely as a graciousness and makes no warranties for to the current status button accuracy of save descriptions.