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A QDRO, or a Qualified Domestic Relations Order is a document necessary to divide retirement plans qualified under the Employment Retirement Income Security Act, or ERISA. If you need a QDRO, your specific terms will be decided based on agreements made in a Marriage Settlement Agreement or as ordered by a judge.
When exploring the options of dividing retirement assets via a QDRO, it's key that you understand the major types of retirement plans that can be divided. The first is a Defined Contribution plan, like a 401(k) or Profit Sharing Plan. Defined Benefit Plans, like ERISA accounts or Hybrid Plans represent the other plans that can be divided by a QDRO.
If you're not certain about the terms of your specific retirement plan or whether your plans are divisible by a QDRO, choose the Law Offices of Dorothy A. Voigt to discuss your plans, their eligibility for division via QDRO, and how to best divide these accounts once your divorce is finalized! Our team has very strong knowledge of retirement plans!
Find more information on Defined Contribution Plans, Defined Benefit Plans, and how they are affected by QDROs below!
The Law Offices of Dorothy A. Voigt are here for our clients - call today for the legal help you need!