Idr -
the information you provided regarding the divorce decree and the reference to the retirement plan sounds like it was in the boilerplate document she completed herself. What it does not state is the account number, the value of the account as of a certain date, if there was a loan on any of the funds, etc. After all, there is volatility in the stock market.- so, upon receipt of a proper QDRO or divorce decree, the funds should be sold as of a certain date and the value frozen to -protect the assets for both parties sake. In addition, the one paragraph puts the responsibility on the Respondent to direct the Plan Administrator to divide the funds equally. Why would the responsibility of dividing the account be placed upon the Respondent? That is just crazy. This isn't how a real QDRO is written. A real QDRO is sent to the TPA or Plan Administrator directly and if it is handed over instead, it must be signed by a Judge and entered into the court system as a valid document. This does not sound like a "valid" document and would not hold up in any court of law. If the employee is married, the 401k beneficiary is the wife and if a distribution is made, they wife would have to sign off on it.- but how do you know if it's the wife's signature? Since the Respondent has terminated employment and you don't have a valid QDRO signed by a Judge- he probably could direct you to rollover 100% of the funds into an another account and be done with it. Without a valid QDRO signed by a Judge - there is no legal document. This is just my 2 cents.
The lawyer made a one paragraph passing reference to the participant's retirement account in the Marital Settlement agreement. "Respondent has a retirement plan with XX Company. Upon distribution of the funds in this plan, Respondent will direct the Plan Administrator to divide the funds equally between the Respondent and the Petitioner, that being 50% to each party, however distributed."
