Introduction
Dividing retirement assets during a divorce is never easy, and if you’re dealing with the Tb Philly, Inc.. 401(k) Profit Sharing Plan, there are specific rules and procedures involved. As QDRO attorneys at PeacockQDROs, we’ve helped thousands of clients through this process—from drafting the qualified domestic relations order (QDRO) to getting final approval and ensuring the funds are correctly divided. In this article, we’ll walk you through what you need to know to divide the Tb Philly, Inc.. 401(k) Profit Sharing Plan in divorce, including plan-specific issues, key 401(k) considerations, and common pitfalls to avoid.
What Is a QDRO and Why Do You Need One?
A Qualified Domestic Relations Order (QDRO) is a court order that allows a retirement plan like a 401(k) to legally transfer a portion of its benefits to a former spouse or other alternate payee without triggering early withdrawal penalties or immediate taxation. Without a QDRO, plan administrators typically won’t allow any distribution to a former spouse—even if your divorce judgment says they’re entitled to some of the plan.
If the employee spouse participates in the Tb Philly, Inc.. 401(k) Profit Sharing Plan, then you must obtain a properly drafted QDRO to split the retirement funds following the divorce. Otherwise, the division might not be enforceable by the plan administrator.
Plan-Specific Details for the Tb Philly, Inc.. 401(k) Profit Sharing Plan
Here is the plan-specific information you’ll likely need when preparing or reviewing a QDRO for this plan:
- Plan Name: Tb Philly, Inc.. 401(k) Profit Sharing Plan
- Plan Sponsor: Tb philly, Inc.. 401(k) profit sharing plan
- Plan Address: 400 Thoms Drive, Suite 411
- Organization Type: Corporation
- Industry: General Business
- Status: Active
- Participant Count, EIN, Plan Number, Asset Value: Unknown (Must be obtained from plan sponsor or plan administrator)
- Effective Date: Unknown
- Plan Year: Unknown to Unknown
This plan is a 401(k) profit sharing plan offered by a general business corporation. Given the lack of public data on plan number and EIN, a divorcing party or their attorney will need to request the official plan SPD (Summary Plan Description) or contact the plan administrator to obtain these critical details before finalizing the QDRO.
Key 401(k) Division Issues to Consider
1. Employee and Employer Contributions
401(k) plans typically include both employee deferrals and employer contributions (such as matching or profit-sharing). The QDRO should clarify whether the alternate payee is receiving a share of only the employee’s contributions or also a share of the employer contribution portion. Be aware that some employer contributions may be subject to a vesting schedule.
2. Vesting Schedules and Forfeitures
Most profit-sharing and 401(k) employer contributions vest over time. If the participant spouse leaves the company before meeting full vesting requirements, certain amounts may be forfeited. QDROs must account for this. You don’t want to award the alternate payee funds that may never vest. Some plans may allow for re-allocation of the remaining value based on what actually vests; others may not. It’s critical to review the plan rules.
3. Loans Against the 401(k)
If there is an outstanding loan on the Tb Philly, Inc.. 401(k) Profit Sharing Plan, that balance can affect how the plan is divided. Some QDROs assign the loan solely to the employee spouse; others divide the account as if the loan didn’t exist, assigning shares based on the gross balance before considering the loan. Again, the QDRO should clearly define how the loan is treated to avoid unexpected outcomes.
4. Roth vs. Traditional Account Balances
Many 401(k) plans now include designated Roth subaccounts. These are taxed differently than traditional 401(k) funds. Roth contributions go in after-tax, and qualified distributions come out tax-free. A QDRO should make it clear whether the division includes Roth funds, traditional funds, or both, and in what proportion. Mixing these up could lead to serious tax problems down the line for the alternate payee. Make sure the QDRO identifies the type of assets being awarded and keeps Roth and pre-tax accounts in their proper lanes.
Common Pitfalls to Avoid with 401(k) QDROs
We’ve seen these issues too many times:
- Failing to correctly identify the plan due to unknown EIN or plan number details
- Assigning rights to unvested funds without qualification
- Ignoring how outstanding loans impact account value
- Using the wrong method to value the account (e.g., percent of balance vs. fixed dollar amount)
- Not distinguishing Roth from traditional 401(k) funds
A carelessly drafted QDRO involving the Tb Philly, Inc.. 401(k) Profit Sharing Plan can cause the alternate payee to lose money, delay benefits, or create serious tax burdens. These issues are avoidable with proper attorney guidance and administrative due diligence.
How PeacockQDROs Handles Plans Like the Tb Philly, Inc.. 401(k) Profit Sharing Plan
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 the plan allows), court filing, and direct submission with follow-up to the plan administrator.
We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way. Our experience with 401(k) plans like the Tb Philly, Inc.. 401(k) Profit Sharing Plan helps us spot red flags early and resolve them before they interfere with your divorce settlement.
If you want to avoid costly delays, check out our list of common QDRO mistakes and learn the five factors that determine how long it takes to get a QDRO done. These insights can save both time and stress.
What to Provide Your Attorney or QDRO Professional
To help the process go faster, you’ll want to have the following ready:
- Plan name as it appears officially: Tb Philly, Inc.. 401(k) Profit Sharing Plan
- Plan sponsor name: Tb philly, Inc.. 401(k) profit sharing plan
- Plan administrator contact info or SPD if available
- Recent account balance (and a breakdown of traditional vs. Roth, if applicable)
- Loan statements showing any outstanding loans on the account
- Distribution preferences (e.g., percentage or fixed amount)
If you can’t locate the plan number or EIN, your attorney or QDRO professional can request it directly from the sponsor. These details are required for submission and processing.
Final Thoughts
The Tb Philly, Inc.. 401(k) Profit Sharing Plan may seem like just another 401(k), but the lack of public data and corporate structure means you have to proceed carefully to get the QDRO right. Whether you’re dividing Roth balances, accounting for unvested employer contributions, or dealing with loan offsets, each issue has to be handled clearly in the order. At PeacockQDROs, we’ve seen it all and can help you avoid the headaches.
Contact Us
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 Tb Philly, Inc.. 401(k) Profit Sharing 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.