Introduction
Dividing retirement accounts in divorce can be complicated—but when it comes to 401(k) plans like the The Board of Trustees of the Ironworkers 568 Retirement Plan, the process requires careful planning and a properly drafted Qualified Domestic Relations Order (QDRO). If you or your spouse has an account in this plan, getting your share depends on understanding QDRO rules, plan-specific features, and how to avoid common mistakes. At PeacockQDROs, we’ve successfully helped thousands get the QDROs they need—start to finish.
Plan-Specific Details for the The Board of Trustees of the Ironworkers 568 Retirement Plan
Below are the relevant known details for this retirement plan that may impact proper drafting and division in divorce:
- Plan Name: The Board of Trustees of the Ironworkers 568 Retirement Plan
- Sponsor: Unknown sponsor
- Address: 119 SOUTH CENTRE STREET
- Industry: General Business
- Organization Type: Business Entity
- Status: Active
- Plan Type: 401(k)
- Plan Number and EIN: Unknown (must be requested from plan administrator)
- Effective Date: Unknown
- Plan Year: Unknown to Unknown
- Participants: Unknown
Because the plan is administered by a business entity with general industry designation, administrative responsiveness and document requirements may vary. Always get confirmation of current plan terms before finalizing your QDRO.
Why a QDRO Is Required for 401(k) Plan Division
The The Board of Trustees of the Ironworkers 568 Retirement Plan is subject to ERISA, which means you can’t just divide the account via your divorce decree. You need a QDRO that meets legal and plan-specific rules. This order tells the plan how much to award to the alternate payee (usually the non-employee spouse).
Without a properly executed QDRO, the plan won’t authorize the distribution, even if your divorce settlement says you’re entitled to a portion of the account. That’s where our expertise at PeacockQDROs really makes a difference. We handle every step—from drafting to court filing to plan submission and follow-up.
Key Issues in Dividing a 401(k): What You Need to Know About This Plan
1. Employee and Employer Contributions
In a typical 401(k) plan like the The Board of Trustees of the Ironworkers 568 Retirement Plan, participants often receive both employee deferrals and employer matching contributions. Here’s where it gets tricky: employer contributions may be subject to a vesting schedule. If you’re dividing the account, it’s important to determine:
- Which contributions are fully vested
- Whether unvested employer funds should be included or excluded
- If future vesting of employer contributions will affect division
The QDRO should clearly spell out whether the alternate payee shares in vested-only contributions or also receives any portion of future vesting (generally not advisable unless negotiated).
2. Vesting Schedules and Forfeiture Provisions
This plan is a General Business plan run by a Business Entity. Many such plans use graded vesting, where employer contributions vest over 3-6 years. If the employee leaves the company before fully vested, the unvested portion may be forfeited. Your QDRO should specify whether it limits the alternate payee’s share to the vested balance as of separation or includes vesting after the divorce—otherwise, you might unintentionally award assets that never materialize.
3. Roth vs. Traditional Accounts
Another pitfall: 401(k) plans often include both traditional (pre-tax) and Roth (after-tax) accounts. The The Board of Trustees of the Ironworkers 568 Retirement Plan could have either or both. Your QDRO must:
- Identify which account types are being divided
- Direct the plan to allocate accordingly (Roth assets cannot be treated like traditional and vice versa)
- Avoid mixing account types in the same paragraph of the order
Failing to properly distinguish Roth from traditional assets could trigger frustrating administrative delays or tax complications.
4. Outstanding Loan Balances
401(k)s often allow participants to borrow from their account through participant loans. These loans reduce the account value and are usually repaid via payroll deduction. If the participant in The Board of Trustees of the Ironworkers 568 Retirement Plan has a loan, you’ll need to determine:
- Whether the loan amount is included in the balance to be divided
- Whether the alternate payee is responsible for any share of the outstanding loan
- How the loan affects the participant’s net account value
Some courts and plans include the loan in the division; others exclude it. Your QDRO must match what the court intended.
How We Handle the QDRO Process at 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 pride ourselves on doing things the right way—our near-perfect client reviews prove it. You can learn more about our step-by-step QDRO services right here.
Common Pitfalls to Avoid in QDROs for This Plan
Based on our experience and the specificity of 401(k) plans like the The Board of Trustees of the Ironworkers 568 Retirement Plan, here are the biggest mistakes we see in DIY or poorly drafted QDROs:
- Not addressing outstanding loans
- Failing to differentiate between Roth and pre-tax accounts
- Assuming the entire balance is vested (when it might not be)
- Using old plan documents with outdated terminology
- Submitting orders with wrong plan name, number, or EIN
Read more about common QDRO mistakes on our blog.
How Long Does It Take to Complete a QDRO?
QDRO processing time can vary widely depending on court timelines, plan responsiveness, and whether preapproval is required. Most time delays happen because the initial QDRO was incorrect or incomplete—which we avoid by doing it right the first time. For more about what affects QDRO timelines, check out this practical guide.
What to Do Next
Get a recent statement from the The Board of Trustees of the Ironworkers 568 Retirement Plan account so that your attorney or QDRO provider can calculate the marital portion. Be sure to request the plan’s QDRO procedures and confirm required information like the Plan Number and EIN. From there, consult a QDRO specialist who understands how to correctly split 401(k)s—and more importantly, handles the entire process, not just the draft.
Have Questions? Let PeacockQDROs Help
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 Board of Trustees of the Ironworkers 568 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.