Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Retirement (https://www.askmehelpdesk.com/forumdisplay.php?f=281)
-   -   401k and divorce (https://www.askmehelpdesk.com/showthread.php?t=208416)

  • Apr 22, 2008, 08:48 AM
    oobachopps
    401k and divorce
    I'm closing my 401k due to a divorce settlement. Will I still have to pay penalties in this situation?
  • Apr 22, 2008, 09:33 AM
    ebaines
    No - distributions from a 401(k) are exempt from the penalty if they are made to an alternate payee in response to a Qualified Domestic Relations Order (QRDO). Be careful to submit the correct paperwork - for example, you will have to submit the QRDO from the court to the 401(k) plan administrator. Here's a web site with some advice on how to do this properly:

    401(k) And Divorce
  • May 15, 2008, 03:17 PM
    SickofX
    I am retiring and need to cash out my pension I have with the company. I owe my x-wife for back alimony, will my pension be taken from me to pay arrearage?

  • All times are GMT -7. The time now is 01:03 AM.