Understanding QDROs for the Howmet Aerospace Hourly Retirement Savings Plan
If you’re going through a divorce and either you or your spouse has an account under the Howmet Aerospace Hourly Retirement Savings Plan, it’s critical to understand how Qualified Domestic Relations Orders (QDROs) work. A QDRO is the legal document required to divide qualified retirement accounts like 401(k)s without triggering taxes or penalties. When it comes to plans like this one, tied to a corporate employer such as Howmet aerospace Inc., there are important factors to consider—especially around contributions, vesting, loans, and Roth accounts.
At PeacockQDROs, we’ve completed thousands of QDROs from start to finish. That means we don’t just draft the order and leave clients to figure out what to do next—we handle everything from drafting and preapproval to court filing and full submission to the plan administrator. Here’s what you need to know specifically about dividing the Howmet Aerospace Hourly Retirement Savings Plan during your divorce.
Plan-Specific Details for the Howmet Aerospace Hourly Retirement Savings Plan
Before drafting a QDRO, it’s important to gather key plan details. Here’s what we know about the Howmet Aerospace Hourly Retirement Savings Plan:
- Plan Name: Howmet Aerospace Hourly Retirement Savings Plan
- Sponsor: Howmet aerospace Inc.
- Address: 201 ISABELLA STREET, SUITE 200
- Plan Effective Dates: 1986-08-01 through 2024-12-31 (current plan year is 2024-01-01 to 2024-12-31)
- Industry: General Business
- Organization Type: Corporation
- Status: Active
- EIN and Plan Number: Required for QDRO preparation, must be obtained from plan documents or directly from Howmet aerospace Inc. or the plan administrator
If this exact account is part of your marital estate, it’s important to get these details right—including confirming current balances, account types, vesting percentages, and loan status. These elements will affect how any QDRO is drafted and enforced.
Key 401(k) Issues When Dividing the Howmet Aerospace Hourly Retirement Savings Plan
The Howmet Aerospace Hourly Retirement Savings Plan is a 401(k) plan sponsored by a corporation in the general business sector. That means it has special characteristics that your QDRO needs to account for. Let’s break down the most important ones.
Employee and Employer Contribution Divisions
This plan likely includes both employee salary deferral contributions and employer matching contributions. A QDRO can divide either or both types, but it’s essential to determine how much of each is available to divide—and whether the employer contributions are vested.
Typically, employee contributions are 100% vested immediately, while employer contributions may be subject to a vesting schedule. If the participant spouse isn’t fully vested in employer contributions, the non-employee spouse (called the “alternate payee”) may receive only the vested portion. Any unvested employer matches often revert to the plan and cannot be assigned through a QDRO.
Understanding Vesting Schedules and Forfeitures
Many corporate-sponsored 401(k) plans use graded vesting schedules—commonly 20% per year over five years. Confirm with Howmet aerospace Inc. or the plan administrator what the vesting rules are for this plan. If the employee isn’t fully vested yet, a QDRO must make clear whether the alternate payee shares in future vesting or only in the currently vested portion.
Be aware that if the alternate payee’s portion includes unvested employer contributions, those amounts may be forfeited. This can cause serious issues if the QDRO was written assuming a larger amount. That’s why working with QDRO professionals who understand these nuances is critical.
Plan Loan Balances and Your QDRO
This plan may allow participants to take loans against their 401(k) balance. These loans often create confusion during divorce. For example, let’s say the participant has $100,000 in their account but took out a $20,000 loan. Should the alternate payee receive 50% of the total $100,000 or only of the net $80,000?
Different plans treat loans differently—some require that the alternate payee’s share include a portion of the loan liability, while others exclude the loan from the division altogether. Always ask the plan administrator how loans are treated. In most cases, PeacockQDROs recommends a clean method that avoids dividing loan amounts unless that’s absolutely necessary.
Roth vs. Traditional 401(k) Distinctions
Some 401(k) plans, including the Howmet Aerospace Hourly Retirement Savings Plan, may have both pre-tax (traditional) and after-tax (Roth) sources. A QDRO needs to address this because Roth and traditional funds are taxed differently when withdrawn.
- Traditional 401(k): Tax-deferred. Distributions taxed when withdrawn.
- Roth 401(k): After-tax contributions. Qualified withdrawals are tax-free.
Your QDRO can specify whether the alternate payee receives a pro rata portion of both types or only specific sources. If it doesn’t clarify this, the plan may process it in a way you didn’t expect. When working with PeacockQDROs, we address these distinctions clearly to avoid surprises later.
QDRO Procedures and Drafting Tips for Corporate Plans like Howmet aerospace Inc.
Plans sponsored by corporations in the general business sector often have structured internal procedures for reviewing QDROs. Getting preapproval before court filing can save significant time and money. While not all plans offer preapproval, it’s recommended to check with Howmet aerospace Inc.’s human resources or benefits department to see if they will review a draft order.
Required Information for Submission
You will likely need the following details to prepare a valid QDRO:
- Full plan name: Howmet Aerospace Hourly Retirement Savings Plan
- Sponsor name: Howmet aerospace Inc.
- Plan administrator contact information
- Participant and alternate payee identifying details
- Plan number and EIN (must be obtained from plan summary or administrator)
It’s also vital to include language reflecting the plan’s specific rules on loans, distributions, and rollover options. Getting this wrong could lead to delays or rejected orders. We cover these issues to avoid errors—see our guide on common QDRO mistakes.
Why Choose PeacockQDROs
At PeacockQDROs, we don’t operate like most document drafters. We take the QDRO all the way from preparation through final submission and beyond—tracking the process through any required preapproval steps and dealing with the court system and plan administrator. That’s what sets us apart, and that’s why we maintain near-perfect client reviews and pride ourselves on doing things the right way.
We keep you updated throughout and offer resources to help you stay informed, including our QDRO library, tips on QDRO timelines, and much more.
Final Thoughts on Dividing the Howmet Aerospace Hourly Retirement Savings Plan
Every QDRO is unique, but 401(k) plans like the Howmet Aerospace Hourly Retirement Savings Plan follow patterns that experienced QDRO professionals understand well. Get the plan details early, request the summary plan description, and confirm key figures like loan balances and Roth makeup. Most importantly, don’t assume a generic QDRO template will work—401(k) plans require precision.
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 Howmet Aerospace Hourly Retirement 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.