Maximizing Your Teleflex 401(k) Savings Plan Benefits Through Proper QDRO Planning

The Teleflex 401(k) Savings Plan may include both employee deferrals and employer matching or profit-sharing contributions. Many QDROs reference the entire account balance on a specific date, but it’s important to understand:

• Only vested employer contributions are divisible. Unvested amounts are not guaranteed and may be forfeited when the participant leaves the company.
• Be clear whether the alternate payee is getting a fixed dollar amount, a percentage of the balance as of a specific date, or another method of division.

Employer contributions to the Teleflex 401(k) Savings Plan may be subject to a vesting schedule. If the participant is not fully vested when the QDRO is executed, a portion of the account may be non-divisible—and possibly forfeited if the employee leaves Teleflex incorporated before certain deadlines.

The vesting schedule must be checked by reviewing the Summary Plan Description (SPD) or contacting the plan’s administrator. Be sure your QDRO accounts for this. Whenever possible, include language stating that the alternate payee is only receiving the vested portion as of the division date.

If the participant has taken a loan from the Teleflex 401(k) Savings Plan, that affects the total account value available for division. Loans are generally not assignable to the alternate payee.

Options when handling 401(k) loans in a QDRO include:

• Including the outstanding loan balance in the account value for division purposes (useful if both parties agree)
• Excluding the loan and dividing only the actual balance held in the account

Be sure you’re clear on how to address this issue based on the facts of your case—and put it in writing in the QDRO. Otherwise, you may face disputes or delays in processing.

The Teleflex 401(k) Savings Plan may allow both traditional (pre-tax) and Roth (after-tax) contributions. These accounts have different tax treatments during distribution:

• Traditional 401(k): Distributions are taxable when the alternate payee withdraws funds.
• Roth 401(k): Distributions are generally tax-free if qualified, but the contributions themselves were made with after-tax dollars.

A common mistake is treating both sub-accounts the same. If the account being divided has both, your QDRO should say exactly how each part will be allocated. Want to avoid tax surprises? That’s part of what we handle every day atPeacockQDROs.

Before drafting a QDRO for the Teleflex 401(k) Savings Plan, get the full name of the plan, the plan number (usually three digits), and the sponsor’s EIN (Employer Identification Number). These are required on the QDRO form and help ensure it goes to the correct administrator.

The language of the order matters. Your QDRO should include:

• Names and last known addresses of both parties
• The name of the plan: Teleflex 401(k) Savings Plan
• The specific formula or dollar amount for division
• Direction on how to handle earnings and losses from the division date to the date of distribution
• Clear handling instructions for Roth vs. pre-tax funds
• Permission for separate account establishment in the alternate payee’s name

Having experience with the quirks of each plan helps. Our team at PeacockQDROs has dealt with many plans, including corporate-sponsored ones like this, and we know the language that minimizes rejection risk.

Some plan administrators offer optional or required pre-approval. It’s wise to take advantage of it if offered. Submitting the draft QDRO before filing with the court allows you to fix any issues proactively—before the court issues a final judgment.

Once the QDRO is preapproved (if necessary), it must be signed by a judge. This is typically done in the same court where the divorce judgment was issued. Filing errors can massively delay implementation—so let experienced professionals like us handle it.

After the judge signs, the QDRO is sent to the plan for final approval. This is where many DIY QDROs fail—the order’s just sitting on someone’s desk. At PeacockQDROs, we don’t stop when the order is filed. We stay on it, track it, and get written confirmation that it’s accepted and processed.

We also highly recommend reviewingcommon QDRO mistakes to avoid costly delays and processing issues.