Introduction
Dividing retirement assets during a divorce can be complicated, especially when it comes to company-sponsored 401(k) plans like the The Murphy Oil Corporation 401(k) Plan. Unlike regular bank accounts, retirement accounts require a special court order—called a Qualified Domestic Relations Order (QDRO)—to legally split the assets. If your spouse participated in this specific plan, it’s critical to understand the QDRO process and anticipate any unique challenges associated with this particular 401(k).
At PeacockQDROs, we’ve worked on thousands of QDROs and seen first-hand how small missteps can delay your case or cost you money. In this guide, we cover what divorcing couples need to know to protect their interests as they divide the The Murphy Oil Corporation 401(k) Plan.
Plan-Specific Details for the The Murphy Oil Corporation 401(k) Plan
Before drafting a QDRO, you need specific details about the retirement plan you’re dividing. Here’s what we know about the The Murphy Oil Corporation 401(k) Plan:
- Plan Name: The Murphy Oil Corporation 401(k) Plan
- Sponsor: The murphy oil corporation 401(k) plan
- Address: ATTN DOUGLAS LAHMAN, 9805 KATY FREEWAY, SUITE G-200
- Industry: General Business
- Organization Type: Business Entity
- Effective Date: Unknown
- Plan Year: Unknown to Unknown
- EIN: Unknown
- Plan Number: Unknown
- Status: Active
For a successful QDRO submission, the plan number and EIN are usually required. If you’re missing this info, your attorney or QDRO specialist can request it from the plan administrator.
Understanding QDROs for 401(k) Plans
A Qualified Domestic Relations Order is a court-approved document that instructs the plan administrator to divide retirement plan assets between divorcing spouses. For the The Murphy Oil Corporation 401(k) Plan, the QDRO must follow both federal guidelines and the specific requirements of the plan administrator.
Because this is a 401(k)-type plan, it’s governed by ERISA rules. That means it’s eligible to be divided by QDRO, but must meet strict content standards. Each plan can impose its own procedures, so using an experienced QDRO provider is critical.
Key Challenges When Dividing the The Murphy Oil Corporation 401(k) Plan
Unvested Employer Contributions
The The Murphy Oil Corporation 401(k) Plan may have a vesting schedule for employer-matched funds. If a participant spouse leaves the company before full vesting, some of the employer contributions may be forfeited. It’s important to understand what portion of the account balance is non-vested and whether your QDRO should divide only the vested amount or the full account value with precautions for forfeitures.
Loan Balances
One of the biggest areas of confusion is how to handle outstanding 401(k) loans. If your spouse took out a loan from the The Murphy Oil Corporation 401(k) Plan, that loan reduces the account balance. Your QDRO can be written to either include or exclude the loan amount from the marital division. However, if the participant is responsible for the loan, they would typically repay it out of their share—not yours.
Roth vs. Traditional 401(k) Funds
This plan may include both pre-tax (traditional) and post-tax (Roth) contributions. When dividing the account, it’s important to split each portion separately. Roth-designated dollars carry unique tax consequences, and your QDRO should ensure that the recipient gets the correct tax-deferred or after-tax funds as stated in the agreement.
Drafting the Order Correctly
Every QDRO must meet strict content requirements. For the The Murphy Oil Corporation 401(k) Plan, you want to ensure your order includes:
- The full legal name of the plan: The Murphy Oil Corporation 401(k) Plan
- The correct participant and alternate payee details (names, addresses, SSNs)
- Clear instructions on how much of the account should be awarded (dollar amount or percentage)
- Whether to include or exclude loans
- A division between Roth vs. traditional balances
- Provisions for gains and losses from the division date until the transfer date
- Language that meets the plan administrator’s procedural rules
At PeacockQDROs, we work directly with plan administrators during the preapproval process (if available) to ensure your order will be accepted without delays.
Common Mistakes to Avoid
We’ve seen many common errors in 401(k) QDROs that can hold up asset transfers or shortchange one party:
- Leaving out Roth/traditional distinctions
- Failing to address loans
- Dividing non-vested balances without proper fallback language
- Using a generic QDRO template that doesn’t match plan-specific procedures
To learn more about these pitfalls, visit our resource on common QDRO mistakes.
Timing and Approval Process
The timeline to finalize a QDRO varies based on several factors. That includes court filing speed, plan administrator response time, and whether the plan requires preapproval. Many plan participants are surprised by how long QDROs can take. To get an idea of what affects the timeline, read our section on the five factors that determine how long a QDRO takes.
At PeacockQDROs, we handle the full process: drafting, preapproval, court entry, and submission to the plan administrator. We also follow up to confirm approval and transfer, which many firms don’t do.
What Makes PeacockQDROs Different?
Unlike services that stop at drafting your QDRO, we guide you every step of the way. 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. Our goal is to get your share transferred correctly and without frustration.
Get Help Dividing the The Murphy Oil Corporation 401(k) Plan
Whether you’re the participant or alternate payee, dividing the The Murphy Oil Corporation 401(k) Plan takes careful planning and a legally sound QDRO. Don’t risk delays or costly mistakes by trusting a general divorce attorney or generic QDRO template. Let the experts at PeacockQDROs help you from start to finish.
Ready to begin? Visit our QDRO resource center or contact us with your questions. We’ll walk you through what documents you need, how to draft a proper order, and what comes next.
Conclusion
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 Murphy Oil Corporation 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.