Divorce and the Foundation Medicine 401(k) Plan: Understanding Your QDRO Options

Going through a divorce can be overwhelming, especially when it involves dividing retirement assets. If you or your spouse has a 401(k) with Foundation medicine, Inc., you’ll likely need a Qualified Domestic Relations Order—or QDRO—to legally divide that account. The Foundation Medicine 401(k) Plan, like most retirement plans, requires a court-approved QDRO to split funds between divorcing spouses.

At PeacockQDROs, we’ve completed many QDROs from start to finish. We don’t just draft the document—we handle everything from preapproval to court filing to submission. That’s what sets us apart. In this article, we explain how QDROs work for the Foundation Medicine 401(k) Plan and how divorcing couples can protect their share of this important financial asset.

Before diving into the QDRO process, here are the key known details about the plan:

• Plan Name: Foundation Medicine 401(k) Plan
• Sponsor: Foundation medicine, Inc.
• Address: 400 SUMMER STREET, plan active from 2010-05-15; 2024 plan year: 01/01/2024 to 12/31/2024
• Industry: General Business
• Organization Type: Corporation
• Status: Active
• EIN and Plan Number: These must be obtained and added to your QDRO as required documentation.

The Foundation Medicine 401(k) Plan is a tax-qualified plan regulated under ERISA and the Internal Revenue Code. To divide this plan legally in a divorce, a properly prepared QDRO is required to ensure the non-employee spouse (known as the “alternate payee”) can receive their share.

Without a QDRO, an ex-spouse cannot receive funds from a 401(k) plan directly. Even if your divorce judgment says one spouse should get a portion of the 401(k), the plan administrator won’t honor that without a QDRO. This legal order instructs the plan to disburse funds to the alternate payee in accordance with the divorce settlement.

What a QDRO Does

• Specifies how funds should be divided
• Protects each party’s legal right to their portion
• Ensures tax-deferred treatment of the transfer, avoiding early withdrawal penalties
• Allows the alternate payee to roll over their share or begin distributions

We often see issues that delay or invalidate QDROs:

• Failing to distinguish between Roth and pre-tax funds
• Not addressing outstanding loans in division language
• Incorrect division dates inconsistent with the divorce judgment
• Leaving out plan name, plan number, or necessary identifiers

For a full list, check out our article oncommon QDRO mistakes.

The timing varies. Some QDROs can be done in a few weeks, others take a few months. Delays often happen when critical information is missing or the parties disagree about terms. Learn more about the timing in our guide:5 factors that determine QDRO turnaround.

Some document services leave you with a template and no support. That’s not how we work. At PeacockQDROs, we’ve completed many QDROs from start to finish. We prepare the order, get preapproval (if available), file with the court, submit to the plan, and follow up to ensure it’s processed properly.

We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way. Learn more about our QDRO process athttps://www.peacockesq.com/qdros/.

The Foundation Medicine 401(k) Plan can be a significant asset in any divorce. Ensuring it’s divided correctly protects both parties’ financial futures. Details like employer vesting, account type, and existing loans matter—and overlooking any of them can cost you time and money.

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 Foundation Medicine 401(k) Plan, contact PeacockQDROs. We focus on QDROs and have successfully processed many orders from start to finish.

Get the answers you need—explore ourQDRO resources orreach out for personalized help if you’re in one of our service states.