Understanding QDROs for the Brown & Brown, Inc. Employee Savings Plan
Dividing retirement benefits during a divorce can be a complicated process, especially when you’re dealing with a 401(k) plan like the Brown & Brown, Inc. Employee Savings Plan. To divide this account legally and preserve its tax-deferred status, a Qualified Domestic Relations Order (QDRO) is required.
At PeacockQDROs, we’ve handled thousands of QDROs from start to finish. That means we draft, submit for preapproval, file with the court, and follow up with the plan administrator—so you don’t have to. If you’re divorcing and the Brown & Brown, Inc. Employee Savings Plan is on the table, understanding the mechanics of a QDRO is essential.
Plan-Specific Details for the Brown & Brown, Inc. Employee Savings Plan
Before drafting a QDRO, it’s important to gather as much information about the plan as possible. Here’s what we know:
- Plan Name: Brown & Brown, Inc. Employee Savings Plan
- Sponsor: Brown & brown, Inc. employee savings plan
- Address: 300 North Beach Street
- Plan Status: Active
- Plan Type: 401(k)
- Industry: General Business
- Organization Type: Corporation
- EIN: Unknown (required for QDRO submission—must be obtained from the plan administrator)
- Plan Number: Unknown (required for QDRO submission—must be obtained from the plan administrator)
- Effective Date: Unknown
- Plan Year: Unknown to Unknown
- Participants: Unknown
It’s important to request the Summary Plan Description (SPD) and the most recent account statement from the plan participant. This information helps ensure the QDRO addresses the specific rules of the Brown & Brown, Inc. Employee Savings Plan.
What a QDRO Does for This 401(k) Plan
A QDRO allows a retirement plan to pay part of a participant’s 401(k) account to an alternate payee—usually a former spouse—as part of a divorce settlement. For the Brown & Brown, Inc. Employee Savings Plan, a properly drafted QDRO ensures that the division is
- Tax-free at the time of transfer
- Not subject to the 10% early withdrawal penalty
- In accordance with ERISA and IRS regulations
The alternate payee can rollover their awarded portion into an IRA or take a distribution (subject to taxes but not penalties).
Key Features of the Brown & Brown, Inc. Employee Savings Plan That Affect QDROs
Employee and Employer Contribution Division
401(k) plans typically include both employee deferrals and employer contributions. A QDRO can specify what portion of each is awarded. In many divorces, the alternate payee is allocated 50% of the marital portion of the account—defined as what was earned from the marriage date to the separation date.
Employer contributions may have different rules for vesting (meaning you may not be entitled to the full account balance). The QDRO should clearly outline whether only vested balances are to be divided or if unvested amounts are included.
Vesting and Forfeitures
It’s common for corporations like Brown & brown, Inc. employee savings plan to include a vesting schedule for employer contributions. If your spouse separates from employment before certain milestones, they may forfeit part of the employer match. A well-drafted QDRO must clarify whether:
- The alternate payee gets a share of the full balance regardless of vesting
- Only vested balances should be divided
This decision can dramatically affect the final dollar amount you receive.
Loan Balances and Repayment Issues
If the plan participant has a loan against their 401(k), the QDRO must address how that affects the award. There are two main options:
- Exclude the loan: Calculate the alternate payee’s share based on the net account value
- Include the loan: Assume the loan is a marital asset and calculate based on the gross account value
Every case is different. If a loan was taken to pay community expenses, it may be fair to treat it as a shared obligation. You also need to specify whether the alternate payee gets a portion of future loan repayments made by the participant.
Roth vs. Traditional 401(k) Accounts
The Brown & Brown, Inc. Employee Savings Plan may contain both pre-tax (traditional) and post-tax (Roth) sources. This needs to be addressed in the QDRO. If the award is a percentage or dollar amount, you should specify:
- If the division comes proportionally from both types
- If only one account type should be divided
This matters for tax treatment. Roth distributions are generally tax-free, while traditional 401(k) distributions are taxed as income. If your QDRO is silent about account type, the plan may apply its own policy—which could lead to surprises later.
Avoiding QDRO Mistakes on This Plan
The biggest problems we see with QDROs for 401(k) plans like the Brown & Brown, Inc. Employee Savings Plan stem from vague language or missing plan details. To prevent costly errors:
- Reference the exact plan name and include all required identifiers (like plan number and EIN—must be obtained from the administrator)
- Define whether to include or exclude loan balances
- Clarify how to handle unvested employer contributions
- Address all account types (Roth vs Traditional)
You can explore our list of common QDRO mistakes here.
How Long Will It Take to Complete a QDRO?
That depends on several factors, including how responsive the plan administrator is and how efficiently the court processes orders. You can read about the 5 key factors behind QDRO delays here.
Why Choose PeacockQDROs?
At PeacockQDROs, we don’t just hand you a draft and walk away. We handle every step: drafting, submitting for pre-approval (if the plan allows), court filing, and working directly with the administrator until it’s finalized. That’s what sets us apart from firms that stop after the document is created.
We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way.
Want to learn more about our QDRO services? Check out our QDRO resources or contact us here.
Wrapping Up
If you’re dealing with the Brown & Brown, Inc. Employee Savings Plan in your divorce, it’s critical to get the QDRO done correctly. This plan may have vesting restrictions, outstanding loans, and multiple account types that require careful attention. A solid QDRO ensures you avoid penalties, preserve your share of retirement assets, and don’t end up fixing costly mistakes down the road.
At PeacockQDROs, we’ve done thousands of QDROs—fast, accurately, and without passing the burden onto our clients. Let us make this part of your divorce easier.
If your divorce was in California, New York, New Jersey, Connecticut, Kansas, Missouri, Iowa, or North Dakota, and you have questions about qualified domestic relations orders or dividing retirement assets like the Brown & Brown, Inc. Employee Savings Plan, contact PeacockQDROs. We specialize in QDROs and have successfully processed thousands of orders from start to finish.
Get the answers you need—explore our QDRO resources or reach out for personalized help if you’re in one of our service states.