Introduction
Dividing retirement assets during divorce is a major financial event—especially when those assets are held in a 401(k) plan like The Statek Smart 401(k) Plan, sponsored by Statek corporation. Unlike other assets you can simply split, retirement accounts require a court-approved document called a Qualified Domestic Relations Order (QDRO) to divide them legally and without tax penalties. If you’re facing divorce and this specific retirement plan is part of the marital estate, here’s what you need to know to protect your share and avoid costly mistakes.
Why a QDRO Is Required for the The Statek Smart 401(k) Plan
A 401(k) is governed by the Employee Retirement Income Security Act (ERISA), which strictly controls how funds can be paid to someone other than the employee. Divorce is one of the few exceptions—but only when there’s a valid QDRO in place. Without a QDRO, the plan administrator cannot legally pay any portion of The Statek Smart 401(k) Plan benefits to a former spouse.
Plan-Specific Details for the The Statek Smart 401(k) Plan
Before drafting or filing a QDRO, it’s important to gather key information regarding the retirement plan in question. Here’s what’s known about this specific plan:
- Plan Name: The Statek Smart 401(k) Plan
- Sponsor: Statek corporation
- Address: 512 N MAIN ST
- Plan Year: Unknown to Unknown
- Effective Date: Unknown
- EIN (Employer Identification Number): Unknown
- Plan Number: Unknown
- Status: Active
- Organization Type: Business Entity
- Industry: General Business
Missing documentation like the Plan Number and EIN may be obtained directly from the participant’s HR department or the plan administrator. These are required when submitting the QDRO and must be included to prevent processing delays.
Start with the Plan Document
Because every retirement plan can have unique rules—especially in large business entities like Statek corporation—your QDRO must comply with the specific terms of The Statek Smart 401(k) Plan. Some plans allow pre-approval of QDROs; others don’t. Some allow alternate payees to retain their portion in the plan; others require a rollover or immediate distribution. We always recommend requesting a copy of the Summary Plan Description (SPD) and any QDRO procedures or templates from the plan administrator.
Key Issues When Dividing a 401(k) Like The Statek Smart 401(k) Plan
1. Employee and Employer Contributions
The Statek Smart 401(k) Plan likely includes both employee salary deferrals and employer-matching or profit-sharing contributions. A QDRO can divide just the vested portion of these benefits. It’s critical to confirm:
- What contributions are 100% vested at the time of division
- Which, if any, employer contributions are subject to a vesting schedule
- The plan’s policy on how unvested amounts are handled in a divorce
Unvested employer contributions may be forfeited if the employee leaves the company before full vesting. We often recommend language that awards the alternate payee only their share of vested benefits as of the date of divorce or QDRO order.
2. Dealing With Plan Loans
If the participant has an outstanding loan against The Statek Smart 401(k) Plan, the loan balance needs to be carefully addressed in the QDRO. Loans can’t be split between parties. Instead:
- The QDRO can divide the total account balance including or excluding the loan
- You can specify whether the alternate payee’s portion is calculated with or without consideration of the loan balance
- Responsibility for repayment generally stays with the participant
Be cautious—incorrect handling of loans in a QDRO could cause the alternate payee to receive less than expected. We’ve seen countless situations where failure to account for loans correctly caused unnecessary litigation.
3. Roth vs. Traditional Accounts
Some Statek corporation employees may have both pre-tax (traditional) and after-tax (Roth) subaccounts within The Statek Smart 401(k) Plan. This distinction matters because they’re taxed differently on distribution:
- Pre-tax 401(k): taxed as ordinary income upon distribution
- Roth 401(k): distributions may be tax-free (if qualified)
Your QDRO should clearly state how these different sources are to be divided. Some plans allow for splitting each account type proportionally; others require specific allocation instructions. Failing to differentiate between Roth and traditional portions may affect how much the alternate payee ultimately receives after taxes.
Establishing Clear Terms for Your QDRO
For The Statek Smart 401(k) Plan, a strong QDRO should include clear answers to these key questions:
- What percentage (or dollar amount) is assigned to the alternate payee?
- Is the division based on a specific date (e.g., date of divorce or date of QDRO entry)?
- How are gains and losses handled from the valuation date through the date of distribution?
- How do loans, unvested amounts, and Roth accounts factor into the total value?
At PeacockQDROs, we know these aren’t technicalities—they’re the difference between a smooth division and months of conflict.
What You’ll Need to Submit a QDRO for This Plan
To draft and submit a valid QDRO for dividing The Statek Smart 401(k) Plan, you’ll need:
- Basic plan information: Plan name, sponsor (Statek corporation), address
- Plan Number and EIN (ask HR or administrator)
- Copy of the plan’s QDRO procedures or template
- Participant and alternate payee information
- Clear language on division terms (percentage, dates, account types, etc.)
We always recommend first submitting a proposed draft to the plan for informal preapproval (if they allow it). That way, you can avoid getting a QDRO rejected after it’s already been entered in court.
Why Work With PeacockQDROs on Your The Statek Smart 401(k) Plan QDRO?
At PeacockQDROs, we’ve completed thousands of QDROs from start to finish. That means we don’t just draft the order and leave you to figure out the rest. We handle the drafting, preapproval (if applicable), court filing, submission, and follow-up with the plan administrator. That’s what sets us apart from firms that only prepare the document and hand it off to you.
We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way. Whether your QDRO needs are simple or complex, we’re here to help you avoid mistakes and protect your financial future. See our tips on common QDRO errors to avoid and what affects QDRO timelines.
If Your Divorce Is Ongoing or Finalized, Act Now
Don’t postpone the QDRO process just because the divorce decree is final. You could lose access to your share of The Statek Smart 401(k) Plan if the QDRO isn’t timely filed and approved. And if your ex retires, takes benefits, or changes jobs before the order is in place, problems multiply.
Plan a Confident Retirement Division with PeacockQDROs
Your future shouldn’t be left to chance. We’re here to make sure that your share of The Statek Smart 401(k) Plan is divided properly, efficiently, and in full compliance with plan rules and federal law.
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 The Statek Smart 401(k) 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.