Dividing the Keany Produce & Gourmet and Related Entities 401(k) Plan in Divorce
If you or your spouse is a participant in the Keany Produce & Gourmet and Related Entities 401(k) Plan, you’ll need to understand how this specific plan can be split during divorce. As part of the property division process, retirement plans like this one often require a Qualified Domestic Relations Order (QDRO) to properly divide the account.
Unlike other assets, a 401(k) cannot simply be split based on a settlement agreement. Instead, a QDRO must be drafted, approved by the court, and sent to the plan administrator. And when it comes to the Keany Produce & Gourmet and Related Entities 401(k) Plan, each step must be precise to avoid delays or costly mistakes.
Plan-Specific Details for the Keany Produce & Gourmet and Related Entities 401(k) Plan
Here’s what we know about this particular retirement plan:
- Plan Name: Keany Produce & Gourmet and Related Entities 401(k) Plan
- Sponsor: P.j.k. food service, LLC dba keany produce & gourmet
- Sponsor Address: 3310 75TH AVENUE
- Plan Type: 401(k) Plan
- Industry: General Business
- Organization Type: Business Entity
- Status: Active
- Plan Year: 2021-01-01 to 2021-12-31
- Plan Effective Date: 1982-10-01
- Plan Number: Unknown (Required for QDRO submission—may be requested from employer or found on participant’s plan documents)
- EIN: Unknown (Also required and can be provided by plan sponsor or through court subpoena if necessary)
To effectively divide this plan, those missing details—Plan Number and EIN—must be added to the QDRO before submission. At PeacockQDROs, we help clients obtain and confirm these required items before proceeding.
Understanding QDROs for 401(k) Plans
The Keany Produce & Gourmet and Related Entities 401(k) Plan is an ERISA-governed defined contribution plan. That means the account grows based on individual and employer contributions and investment performance. In a divorce, QDROs are necessary to legally assign a portion of the participant’s account to the alternate payee (usually the former spouse).
What a QDRO Does
A Qualified Domestic Relations Order allows the plan administrator to:
- Pay a portion of the retirement account to the former spouse directly
- Authorize the transfer without taxes or early withdrawal penalties (if rolled into a qualified account)
- Split funds according to the final divorce judgment
Without a valid QDRO, the plan cannot and will not divide the account—that’s why getting it right matters.
Key Considerations for the Keany Produce & Gourmet and Related Entities 401(k) Plan
Employee and Employer Contributions
In most 401(k) plans, including the Keany Produce & Gourmet and Related Entities 401(k) Plan, contributions come from both the employee and the employer. A QDRO must specify how each type of contribution will be divided:
- Employee Contributions: Generally divided based on a percentage or flat dollar amount as of a valuation date
- Employer Contributions: Subject to vesting—only the vested portion is divisible
Vesting Schedules and Forfeitures
Employer matches and profit-sharing typically follow a vesting schedule. For example, under a 6-year graded vesting schedule, the participant may only be 40% vested after three years. If the divorce occurs while the participant is partially vested, the unvested portion is excluded from division and may be forfeited if the employee leaves the company.
That means the QDRO must carefully calculate what was vested as of the cutoff date. Oversights here can lead to incorrect payout amounts—or worse, rejections by the plan.
Handling 401(k) Loan Balances
If the participant has taken a loan from their 401(k), that balance reduces the net amount available for division. Some plans subtract the loan before division; others divide the full account and assign the loan solely to the participant. The Keany Produce & Gourmet and Related Entities 401(k) Plan should be reviewed for its specific policy, and the QDRO should address loan treatment clearly.
Roth vs. Traditional Account Splits
Like many 401(k) plans today, this plan may offer both pre-tax (traditional) and post-tax (Roth) components. A QDRO should specify how both account types are divided:
- Traditional 401(k): Withdrawals are taxable to the recipient
- Roth 401(k): Generally tax-free if requirements are met
Failing to differentiate between these account types in the QDRO can lead to IRS complications or incorrect tax handling for the alternate payee.
What Makes the QDRO Process Unique for This Plan
Because the Keany Produce & Gourmet and Related Entities 401(k) Plan is sponsored by a private business entity—P.j.k. food service, LLC dba keany produce & gourmet—there may not be third-party plan administrators. Smaller or mid-sized employers often have internal plan contacts or use minimal outsourcing.
This can delay QDRO approval or create confusion if the request isn’t properly worded. It’s critical to work with a QDRO firm familiar with private business 401(k)s and who knows how to reach the right departments for preapproval and submission.
Common Mistakes in 401(k) QDROs—and How to Avoid Them
Visit our article on common QDRO mistakes for more examples. Some errors we frequently correct include:
- Failing to divide Roth and traditional 401(k) accounts separately
- Leaving out loan balance instructions
- Misunderstanding vesting rules and assigning non-divisible amounts
- Omitting critical QDRO data like Plan Number and EIN
- Not securing preapproval—leading to rejection and more delays
How Long Will Your QDRO Take?
Processing times vary based on several factors. We break those down in our article on QDRO timing factors. The process includes drafting, court approval, and plan administrator review—which can take 30 days or more if paperwork isn’t clear.
Why Choose PeacockQDROs
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.
Whether you’re dividing a large plan or managing a modest account like the Keany Produce & Gourmet and Related Entities 401(k) Plan, precision, timing, and experience matter.
Need Help Dividing This 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 Keany Produce & Gourmet and Related Entities 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.