Sentences with phrase «transfer of a qualified retirement plan»

Not exact matches

First of all, protect your retirement interests during the divorce process by obtaining the necessary legal documents, such as a Qualified Domestic Relations Order (QDRO), to delineate how your retirement plan will be split up and evaluate the type of payment transferred.

KEMBA offers Traditional and Roth IRAs so you can take advantage of tax savings, supplement your 401 (k), or combine previous 401 (k) s for greater returns; we are pleased to accept rollovers, transfers and lump - sum distributions from qualified retirement plans.

Participants who qualify for distribution may receive a single lump sum, transfer the assets to another qualified plan or individual retirement account, or receive a series of specified installment payments.

If a court wants to transfer certain kinds of federally regulated retirements assets titled in the name of one spouse to another spouse in the course of a divorce, this is only effective if the Court follows the exacting requirements of a «qualified domestic relations order» (similar requirements apply to both federal government employee benefits and to private pension plans governed by ERISA which is a federal law with broad pre-emptive effect over private pension law).

In order to avoid the income tax penalty and actual tax on a transfer of a retirement plan from one spouse to another spouse, you must use a Qualified Domestic Relations Order («QDRO».)