Divorce and the Prog Holdings Employee Retirement Plan: Understanding Your QDRO Options

Dividing the Prog Holdings Employee Retirement Plan Through a QDRO

If you or your spouse participated in the Prog Holdings Employee Retirement Plan during your marriage, it’s important to understand how that 401(k) plan can be divided in divorce. Dividing a retirement plan like this requires a specialized legal document called a Qualified Domestic Relations Order (QDRO). This order allows plan administrators to split retirement benefits without triggering taxes or penalties, and ensures the alternate spouse (called the “alternate payee”) receives their share.

But not all QDROs are the same. And with a plan sponsored by Prog holdings, Inc.., a General Business corporation, there are some unique details to keep in mind. Below, we’ll walk through the QDRO process specific to 401(k) plans like the Prog Holdings Employee Retirement Plan, including how to handle different account types, employer contributions, loans, and more.

Plan-Specific Details for the Prog Holdings Employee Retirement Plan

Plan Name: Prog Holdings Employee Retirement Plan
Sponsor: Prog holdings, Inc..
Address: 256 WEST DATA DRIVE
Plan Number: Unknown (You’ll need this from the Summary Plan Description or plan administrator)
Employer Identification Number (EIN): Unknown (Required for QDRO submission—get this from plan documents)
Plan Type: 401(k) Retirement Plan
Sponsor Type: Corporation
Industry: General Business
Status: Active
Effective Dates & Assets: Unknown (Confirm current balances and effective participation dates from the plan administrator)

Some of this information will be required when drafting your QDRO, especially the plan number and EIN. These identifiers ensure that your order is submitted to the correct plan and processed on time.

How QDROs Work for 401(k) Plans Like This

With a traditional 401(k) like the Prog Holdings Employee Retirement Plan, contributions made by employees and by the employer (including matches) accumulate over time. The value of the account when divided depends on both parties’ contributions and investment performance.

Employee vs. Employer Contributions

In divorce-related QDROs, employee contributions are typically considered fully marital if made during the marriage. Employer contributions, however, may be subject to a vesting schedule. If the participant spouse hasn’t met the plan’s vesting requirements, part of the employer match may be forfeited. Your QDRO should clearly state whether the alternate payee is entitled to only vested amounts or a formula recalculation if additional vesting occurs later.

Vesting and Forfeited Amounts

401(k) plans often use graduated vesting schedules for employer contributions. That means if your spouse hasn’t worked at Prog holdings, Inc.. long enough, some of those contributions may not be “owned” yet. They’ll be lost (forfeited) if the employee leaves the company before meeting the timeframe. When drafting your QDRO, it’s critical to address whether the alternate payee is entitled to gain benefits if previously unvested funds later become vested—especially if the employee stays employed after the divorce.

Loan Balances and Their Treatment in QDROs

You’ll also want to determine whether the participant has any existing loans against their 401(k). If there’s a loan balance within the Prog Holdings Employee Retirement Plan, you must consider how this affects the account’s gross balance versus its net balance. A properly drafted QDRO will specify whether the division happens before or after subtracting loan amounts and whether the alternate payee shares in the burden of repayment.

Roth vs. Traditional 401(k) Balances

Many employers are offering both pre-tax (traditional) and after-tax (Roth) contributions in their 401(k) structures. The Prog Holdings Employee Retirement Plan may include both types. Because Roth and traditional 401(k)s are taxed differently upon withdrawal, your QDRO should specify whether the division applies pro rata across all types of funds, or if specific account types (e.g., Roth only) are being split. That helps you avoid unexpected tax liabilities down the road.

Important QDRO Considerations Specific to This Plan

The Prog Holdings Employee Retirement Plan is a corporate plan with unknown participant counts and asset totals. Here are a few practical considerations we’ve seen come up repeatedly in similar employer plans:

Missing Information: Because plan number and EIN are currently unknown, your attorney needs to obtain the Summary Plan Description (SPD) from the plan administrator before preparing a QDRO.
Account Statements: Obtain a recent account statement that includes the participant’s vested and non-vested balances, as well as the breakdown by contribution type.
Coordination: Corporate 401(k) plans like this one often use major third-party administrators (e.g., Fidelity, Vanguard, Empower). Verify the exact administrator to confirm submission procedures and whether preapproval is required.

How PeacockQDROs Can Help

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 need help with a QDRO for the Prog Holdings Employee Retirement Plan or just have questions about what’s marital versus separate property, we’re here to guide you every step of the way.

Before you get started, take a moment to review our helpful articles:

Next Steps for Dividing the Prog Holdings Employee Retirement Plan

Here are the general steps we recommend if you’re working toward dividing this plan:

Get Divorce Judgment: Make sure your divorce decree specifies who gets what percentage of the 401(k). This isn’t enough for the division, but it’s the starting point.
Obtain Plan Info: Request the Summary Plan Description and any applicable QDRO procedures from the plan administrator.
Check for Loans & Vesting: Find out if there are loan balances, Roth components, or unvested employer contributions.
Hire a QDRO Attorney: A DIY approach invites errors. We offer efficient, accurate drafting and full-service processing.
Submit and Follow Through: After court entry, your QDRO must go to the correct plan contact for processing—this is where many fall through. We handle that for our clients.

State-Specific QDRO Assistance

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 Prog Holdings Employee Retirement 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.