Why the Jane Street Group, LLC 401(k) Plan Requires a Precise QDRO
If you’re divorcing and either you or your spouse has a Jane Street Group, LLC 401(k) Plan, there’s a good chance you’ll need a Qualified Domestic Relations Order (QDRO) to split those retirement benefits. A QDRO for a 401(k) plan like this one doesn’t just ensure compliance with ERISA and IRS rules—it protects your rights and helps avoid serious mistakes that could cost you thousands.
At PeacockQDROs, we’ve handled thousands of plans just like the Jane Street Group, LLC 401(k) Plan. This article breaks down what you need to know about dividing this specific retirement plan during divorce, including employer matching, vesting rules, Roth balances, loan repayment, and required information when submitting the QDRO.
Plan-Specific Details for the Jane Street Group, LLC 401(k) Plan
When dividing this plan in divorce, it helps to understand the specifics of how it’s set up:
- Plan Name: Jane Street Group, LLC 401(k) Plan
- Sponsor Name: Jane street group, LLC 401(k) plan
- Sponsor Address: 250 Vesey Street, 6th Floor
- Plan Effective Date: August 1, 2000
- Plan Status: Active
- Organization Type: Business Entity
- Industry: General Business
- EIN and Plan Number: Must be obtained from official plan documents
Without the Plan Number and EIN, your QDRO could be rejected. These must be included in your court order, so be sure you or your attorney secures a current Summary Plan Description (SPD) or has communication with the plan administrator before drafting the QDRO.
How QDROs Work for the Jane Street Group, LLC 401(k) Plan
A QDRO is a court order that allows for the legal division of a retirement plan between divorcing spouses without triggering taxes or penalties. Here’s how they apply to this 401(k) specifically.
Who Can Receive a Portion of the Plan?
The receiving spouse is referred to as the “alternate payee.” This might be a former spouse, current spouse, or dependent. The QDRO must clearly specify how the alternate payee’s share will be calculated.
Timing Matters
Although a divorce decree can state that retirement assets should be split, a QDRO must be separately prepared and approved by both the court and the plan administrator. No division can occur until this is complete.
Key Division Considerations for the Jane Street Group, LLC 401(k) Plan
Dividing a 401(k) involves more than just assigning a percentage. Here are unique factors you’ll need to pay attention to in a QDRO for this particular plan.
1. Employee Contributions vs. Employer Matching
Participants often assume they own their full 401(k) balance, but employer contributions are usually subject to vesting. A QDRO must distinguish between vested and non-vested amounts. If only part of the employer match is vested at the time of divorce, the alternate payee’s award should reflect that, or risk being denied by the plan administrator.
2. Vesting Schedules
The Jane Street Group, LLC 401(k) Plan likely has a vesting schedule for employer contributions. That means employees earn ownership of those funds over time. A well-drafted QDRO will be clear about what portion of the matching contributions the alternate payee is entitled to and whether those amounts are vested or will become vested in the future. You may also include language that ties the award to the participant’s vesting status on the date of divorce.
3. Loan Balances and Repayment
If the participant has taken out a 401(k) loan, you have to decide how that will be handled. Some QDROs award a percentage of the net balance (after subtracting the loan), while others award a share of the gross balance. If your goal is fairness, this is a crucial issue to clarify before drafting.
Remember, loan repayment is the responsibility of the participant—even after the QDRO. The plan administrator won’t shift liability for a 401(k) loan to the alternate payee.
4. Roth vs. Traditional Accounts
Many plans, including the Jane Street Group, LLC 401(k) Plan, offer both Roth and traditional (pre-tax) accounts. These need to be separated carefully in the QDRO. Failing to identify the type of account you’re dividing can cause serious tax consequences for the alternate payee later on.
Always specify whether the division includes Roth sources, traditional sources, or both.
Common QDRO Mistakes We Help You Avoid
Based on our years of experience, here are the most common issues we’ve encountered when dividing 401(k) plans like the Jane Street Group, LLC 401(k) Plan:
- Failing to account for unvested employer contributions
- Not identifying account types (Roth vs. traditional)
- Improper handling of loan balances
- Forgetting to include the Plan Name, EIN, or Plan Number
- Missing preapproval or failing to submit the QDRO to the plan administrator
Want to avoid these pitfalls? We cover them on our QDRO Mistakes page.
The Process to Divide the Jane Street Group, LLC 401(k) Plan Properly
At PeacockQDROs, we don’t just draft your order—we manage the entire process:
- We gather plan-specific information, including vesting schedules and SPD details.
- We draft a QDRO tailored to the Jane Street Group, LLC 401(k) Plan’s requirements.
- We submit it for preapproval, if the plan allows.
- We file with the court (so you’re not left wondering what to do next).
- We follow up until the plan accepts and processes it.
This full-service approach is what sets PeacockQDROs apart. We keep you informed and do the hard work many firms leave to you. You can read more about our full process here.
Documentation You’ll Need
Before drafting, make sure you have the following details ready:
- The full legal name of the plan: “Jane Street Group, LLC 401(k) Plan”
- The name of the plan sponsor: “Jane street group, LLC 401(k) plan”
- The Plan Number and EIN (contact HR or plan administrator)
- Latest account statement showing balances by source/types
- Loan documents if applicable
When Will the Alternate Payee Get Paid?
Once the QDRO is accepted, the Jane Street Group, LLC 401(k) Plan will calculate the award and transfer the share to the alternate payee. Depending on the plan terms, the alternate payee may choose a rollover to an IRA or a lump sum distribution (which can be taxed).
How long this takes varies based on multiple factors. We break those down in our guide on QDRO timelines.
Work with True Experts—From Start to Finish
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—from the first draft to the final release of funds.
Let’s Talk About Dividing the Jane Street Group, LLC 401(k) Plan
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 Jane Street Group, LLC 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.