Presenting a live 90-minute webinar with interactive Q&A QDRO Drafting Boot Camp: Preparing QDROs for 401(k)s and Similar Defined Contribution Plans Strategies for Family Law Practitioners to Help Ensure Administrator Approval and Avoid Unintended Loss of Retirement Benefits WEDNESDAY, MAY 18, 2016 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific Today’s faculty features: William J. Cantrell, Ogletree Deakins Nash Smoak & Stewart , Tampa, Fla. David M. Sawyer , Shareholder, Ogletree Deakins Nash Smoak & Stewart , Miami The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions emailed to registrants for additional information. If you have any questions, please contact Customer Service at 1-800-926-7926 ext. 10 .
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QDRO Drafting Boot Camp: 401(k) Plans Presented by Will Cantrell and David Sawyer . ogletreedeakins.com
Purpose of Presentation To assist you in: Understanding 401(k) plans • Preparing QDROs for 401(k) plans • 6 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
QDROs: Statutory Product of ERISA ERISA’s Anti -Assignment Rule and Exception The Employee Retirement Income Security • Act (“ERISA”) and the Internal Revenue Code (“Code”) prohibit retirement plan participants from assigning their interest in a plan. An exception to this anti-assignment rule is • assigning retirement benefits through a QDRO. 7 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
QDRO Defined A “qualified domestic relations order” (QDRO) is: A “domestic relations order” • That creates the existence of an “alternate payee’s” right to • receive all or a portion of the benefits payable with respect to a “participant” under a retirement plan, and That includes certain required information ( i.e ., content • requirements) and does not require the plan to agree to certain provisions ( i.e ., prohibited provisions) 8 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
Key Terms Domestic Relations Order • Participant • Alternate Payee • Plan Administrator • 9 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
Retirement Plans Subject to QDROs Those sponsored by: Private sector employers ( e.g. , 401(k) plans, traditional • pension plans) Public schools and non-profit organizations (403(b) • plans) State and local governments (457 plans) • 10 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
Retirement Plans Subject to QDRO-Like Orders (Not QDROs) IRAs • Retirement plans sponsored by: • Federal Government • Military • Railroad • 11 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
Retirement Plans Not Subject to QDROs or QDRO-Like Orders • Non-qualified plans ( i.e. , unfunded excess benefit plans) 12 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
401(k) Plan Features • Contributions • Interest, dividends, investment gains/losses • Fund menu • Traditional v. Roth accounts 13 Atlanta / Austin / Berlin / Birmingham / Boston / Charleston / Charlotte / Chicago / Cleveland / Columbia / Dallas / Denver / Detroit (Metro) / Greenville Houston / Indianapolis / Jackson / Kansas City / Las Vegas / London / Los Angeles / Memphis / Mexico City / Miami / Milwaukee / Minneapolis Morristown / Nashville / New Orleans / New York City / Orange County / Philadelphia / Phoenix / Pittsburgh / Portland / Raleigh / Richmond San Antonio / San Diego / San Francisco / Seattle / St. Louis / St. Thomas / Stamford / Tampa / Toronto / Torrance / Tucson / Washington, D.C. www.ogletreedeakins.com
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