Understanding QDROs and the Landings Real Estate Group 401(k) Plan
If you’re divorcing and one of you has retirement savings through the Landings Real Estate Group 401(k) Plan, a Qualified Domestic Relations Order (QDRO) is how that account can be divided. A QDRO is a legal order that allows retirement benefits to be transferred to a former spouse without early withdrawal penalties or tax consequences at the point of transfer.
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.
Plan-Specific Details for the Landings Real Estate Group 401(k) Plan
- Plan Name: Landings Real Estate Group 401(k) Plan
- Sponsor: Landings management LLC
- Address: 20250530142337NAL0005256115001, 2024-01-01
- Employer Identification Number (EIN): Unknown
- Plan Number: Unknown
- Industry: General Business
- Organization Type: Business Entity
- Number of Participants: Unknown
- Plan Year: Unknown to Unknown
- Plan Effective Date: Unknown
- Status: Active
- Total Assets: Unknown
These unknowns—EIN, Plan Number, number of participants, and plan year—are pieces of information you’ll need to obtain when preparing your QDRO. Your attorney or QDRO professional can work with the plan administrator or retrieve them through a Statement of Account or Summary Plan Description (SPD).
Why a QDRO Is Essential for Dividing a 401(k)
Without a QDRO, the plan cannot legally pay benefits to anyone other than the participant. If your divorce settlement says the account is to be split but no QDRO is in place, your rights are not protected. Worse, if your former spouse retires and withdraws all the funds, you may lose your share. A QDRO is your legal safeguard.
Key Issues When Dividing a 401(k) Plan
Employee and Employer Contributions
The Landings Real Estate Group 401(k) Plan likely includes both employee deferrals and employer matching contributions. You need to understand which amounts are up for division. Most QDROs only divide the marital portion of the account—that is, what was earned during the marriage by either party.
Employer contributions may be subject to vesting, which means the employee only earns the right to keep those funds after a certain number of years. If you’re dividing the account close to the separation date, check to see if any employer contributions are unvested. Those amounts may be forfeited and should not be included in your share unless the QDRO accounts for potential future vesting in some way.
Vesting Schedules and Forfeitures
When dividing the Landings Real Estate Group 401(k) Plan, it’s important to check the Summary Plan Description for the plan’s vesting schedule. For example, an employee may need three or five years of service before becoming fully vested in employer contributions.
If the participant has not met that schedule, some or all of the employer-contributed funds may be subject to forfeiture. A well-crafted QDRO specifies whether your award includes or excludes such amounts, and whether you’ll share in amounts that vest after the divorce date.
Loan Balances
Many 401(k) participants borrow from their accounts. If there is a loan against the Landings Real Estate Group 401(k) Plan, be sure to discuss it with your attorney or QDRO professional.
Here’s what matters:
- A loan reduces the account balance available for division
- You should agree on whether the loan will be excluded or shared when dividing the account
- If excluded, the QDRO awards a percentage of the total minus the outstanding loan
- If included, you’re effectively dividing an account that includes the loan liability
Loan language must be included in the QDRO to avoid post-divorce disputes.
Traditional vs. Roth 401(k) Accounts
The Landings Real Estate Group 401(k) Plan may offer both traditional (pre-tax) and Roth (after-tax) contribution options. The QDRO must clearly state how each type of account is to be divided.
Tax treatment is different for Roth and traditional balances during distribution. A good QDRO separates the two account types if both exist and awards a portion of each. This avoids any IRS confusion and ensures you’re not taxed incorrectly later.
The QDRO Process: Step by Step
1. Get the Right Documents
You’ll need the Summary Plan Description, a recent account statement, and contact information for the plan administrator. Since the EIN and plan number are currently unknown, a QDRO expert like PeacockQDROs can assist you in communicating with Landings management LLC to get those details.
2. Draft the QDRO
The QDRO must meet both ERISA and the plan administrator’s specific requirements. At PeacockQDROs, we prepare QDROs that not only comply with federal law but also go through pre-approval (if the plan offers it) to ensure acceptance.
3. Seek Preapproval (If Offered)
Many administrators, including those of business entity plans like this one, allow for preapproval. This step means the plan administrator reviews the QDRO before it’s filed with the court. It helps you avoid delays, rejections, or costly revisions later.
4. Court Filing
Once approved, the QDRO must be signed by a judge and entered as part of the divorce decree or as a post-judgment order. Your QDRO isn’t valid until it’s entered by the court.
5. Submit to the Plan
Send the court-certified QDRO to the administrator of the Landings Real Estate Group 401(k) Plan through Landings management LLC. We follow up to confirm it’s in process and that the alternate payee’s account is being set up correctly.
Avoiding Mistakes in QDROs
QDROs are not one-size-fits-all documents. Common mistakes include:
- Failing to distinguish between Roth and traditional accounts
- Not addressing outstanding loan balances
- Using vague terms like “half the account” without a date
- Ignoring the vesting schedule of employer contributions
To see more pitfalls and how to avoid them, visit our page on common QDRO mistakes.
How Long Does a QDRO Take?
Some QDROs can be completed quickly, while others take several months. The complexity of the Landings Real Estate Group 401(k) Plan, plan administrator cooperation, and court timelines all play a role. Learn more about the timing by visiting this breakdown of the 5 factors that affect how long it takes.
Why Choose PeacockQDROs
At PeacockQDROs, we don’t just draft your QDRO and leave you on your own. We take care of the entire process—drafting, preapproval (if applicable), filing it with the court, submission to the plan, and follow-up with the administrator. We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way. If you’re dividing a 401(k) like the Landings Real Estate Group 401(k) Plan, you want it done correctly the first time.
Start here: Explore our QDRO services or contact us with your questions.
Conclusion
Dividing the Landings Real Estate Group 401(k) Plan in divorce requires careful attention to plan-specific factors like loan balances, vesting schedules, and account type splits. A solid, customized QDRO ensures your rights are protected and your award is processed correctly by the plan administrator.
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 Landings Real Estate Group 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.