Defined Contribution Plans
A Defined Contribution Plan is actually a lump sum of
dollars invested in stocks, bonds, mutual funds, CD's or any
investment product. These funds are part of qualified plans like
tax sheltered annuities, profit sharing, 401K, employee stock
ownership plan, SEP, or IRA.
These funds can be distributed to the Alternate Payee in a lump sum by a QDRO. If the Alternate Payee takes the money prior to age 59½ in a lump sun, the Alternate Payee could pay up to 50% in taxes and penalties.
How The QDRO Is Written:
We draft the QDRO for $200.00 - attorneys only.
Corrections are made by LVSS free of charge.
After approval by the Plan Administrator the order is signed and certified by the court and sent to the Plan Administrator.
FOR QDRO APPLICATION CLICK HERE.
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