Introduction
In a divorce, dividing retirement plans like the 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan requires more than just an agreement between spouses—it takes a properly prepared and processed Qualified Domestic Relations Order (QDRO). If you or your spouse participated in this plan, understanding how to split it properly through a QDRO is crucial. At PeacockQDROs, we’ve helped thousands of clients do just that.
This article breaks down everything you need to know about dividing this specific 401(k) plan in divorce, including how employer contributions, vesting, and loan balances factor in.
What Is a QDRO?
A Qualified Domestic Relations Order, or QDRO, is a court order required to divide a retirement account like a 401(k) or pension due to divorce. It tells the plan administrator how much of a retirement benefit goes to an ex-spouse (called the “alternate payee”).
Without a valid QDRO, a divorce decree—even one signed by a judge—can’t divide a 401(k) plan. That means the ex-spouse won’t receive their share until the QDRO is prepared and accepted by the plan administrator.
Plan-Specific Details for the 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan
Here’s what we know about this specific retirement plan and why it matters for your QDRO:
- Plan Name: 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan
- Sponsor: 246 spring st (ny) LLC dba the dominick hotel (‘the hotel’) 401(k) plan
- Address: 246 Spring Street, New York, NY
- Organization Type: Business Entity
- Industry: General Business
- Status: Active
- EIN: Unknown
- Plan Number: Unknown
- Participants: Unknown
- Effective Date & Plan Years: Data available from 2010–2020, specific plan year details unknown
This plan is a standard 401(k), which means it can include multiple contribution sources, vesting rules, loan provisions, and both Roth and traditional pre-tax accounts. Addressing these details in a QDRO is key to a successful division.
Key QDRO Issues for the 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan
1. Employee and Employer Contributions
Your QDRO must clarify whether the ex-spouse (alternate payee) receives a share of just the employee’s contributions or also the employer’s matching or profit-sharing contributions. Since this is a 401(k) plan from a business entity in the general business sector, it likely includes employer matches.
Make sure your order specifies whether the alternate payee is entitled to a marital portion of all contributions made during the marriage, and how that marital portion should be calculated. At PeacockQDROs, we often use a time-rule formula unless the parties agree otherwise.
2. Vesting Schedules
The 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan may have a vesting schedule for employer contributions. Only the vested portion of the account can be paid out under a QDRO. If your divorce is early in the employee’s career, some of the employer-based funds may be unvested and excluded from division.
If you don’t account for vesting in your QDRO language, you could end up with confusing results or delays. Our QDROs always address this so there’s no misunderstanding down the road.
3. Loan Balances
If there’s an outstanding loan in the participant’s account, it impacts the value of the benefit being divided. You’ll need to decide—should the alternate payee’s share be calculated before the loan is subtracted, or after?
This choice can make a large financial difference depending on the size of the loan. Some plans treat loans as offsets, while others count them differently. Our team at PeacockQDROs checks the exact plan rules before finalizing the language.
4. Traditional vs. Roth 401(k) Accounts
The 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan could include Roth contributions, which are after-tax, as well as traditional pre-tax 401(k) funds. Your QDRO should be clear about how Roth and pre-tax funds are handled.
The IRS has different rules for distributing Roth money. Get it wrong, and the alternate payee might be hit with unexpected taxes. We make sure each account type is carefully addressed so everyone gets what they’re owed—with no added tax headaches.
Why You Can’t Rely on Just Your Divorce Judgment
A divorce judgment might say, “Spouse gets half the 401(k),” but the plan administrator doesn’t work off general statements like that. Instead, they require a properly drafted QDRO that includes:
- Exact plan name: 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan
- Correct sponsor name: 246 spring st (ny) LLC dba the dominick hotel (‘the hotel’) 401(k) plan
- Detailed allocation instructions
- Account for loans, vesting, and account types
A court order without these elements will be rejected. That’s why most couples who attempt to do this alone—or use someone inexperienced—run into costly delays.
How PeacockQDROs Handles This Process for You
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 entire process:
- Drafting the QDRO
- Submitting it for preapproval (if the plan allows it)
- Filing in court and obtaining the judge’s signature
- Sending it to the plan administrator for final implementation
- Following up until benefits are divided
That’s what sets us apart from document-only firms. We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way.
Common Pitfalls to Avoid
Before you move forward, protect yourself by avoiding these major QDRO errors:
- Failing to name the plan correctly (use the full name: 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan)
- Not addressing outstanding loan balances
- Ignoring Roth vs. traditional account rules
- Overlooking plan-specific requirements
We see mistakes like these all the time—visit our guide to common QDRO errors to make sure you don’t make them, too.
How Long Will It Take?
Several factors influence the timing of your QDRO. These include whether the plan offers preapproval, the court’s process, and how responsive the plan administrator is. Learn more in our article on the 5 key timing factors.
What Documents You’ll Need
You’ll generally need the following to get started on your QDRO for the 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan:
- Final judgment of divorce
- Names and addresses of both spouses
- Last four digits of SSNs (full SSNs used only in secure delivery)
- Plan name and sponsor details
- Participant’s last known account statement
Contact Us to Get Started Today
You don’t have to figure this out alone. Whether you’re the participant or the alternate payee, and whether your divorce was recent or years ago, we can help divide your retirement asset right.
Visit our QDRO resource center or contact us for help with your specific situation.
Final Thought
No matter how amicable your divorce was, retirement accounts must be split by the book—and that book is complicated. With a plan like the 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 401(k) Plan, you can’t afford to cut corners.
Let PeacockQDROs take care of the entire process for you, the right way.
State-Specific Call to Action
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 246 Spring St (ny) LLC Dba the Dominick Hotel (‘the Hotel’) 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.