Going through a divorce is hard enough—dividing retirement assets can make it even more stressful. If you or your spouse is a participant in the Revlon Employees Savings, Investment, Profit Sharing Plan, it’s critical to make sure the division is done correctly. One wrong move in the QDRO process can cost you thousands in lost benefits or trigger unexpected taxes.
At PeacockQDROs, we’ve helped thousands of divorcing individuals successfully divide retirement plans just like this one. We don’t just draft and hand off a document—we manage the entire QDRO process from start to finish, including submission, preapproval (where allowed), and follow-up with the administrator. Our job is to make sure you don’t miss anything. Let’s go over the key things you need to know about dividing the Revlon Employees Savings, Investment, Profit Sharing Plan in divorce using a Qualified Domestic Relations Order (QDRO).
Plan-Specific Details for the Revlon Employees Savings, Investment, Profit Sharing Plan
Before getting into strategy, here are the known plan details you’ll need when preparing a QDRO:
- Plan Name: Revlon Employees Savings, Investment, Profit Sharing Plan
- Plan Sponsor: Revlon consumer products corporatio n
- Address: 55 WATER STREET, 43RD FLOOR
- Plan Type: Profit Sharing (likely including a 401(k) component)
- Industry: General Business
- Organization Type: Business Entity
- Status: Active
- Effective Date: Unknown
- Plan Year: Unknown to Unknown
- Plan Number and EIN: These must be obtained from participant documents for QDRO preparation
Because this is a profit sharing plan, expect both employee (salary deferral) contributions and employer profit sharing contributions. Roth and traditional balances may also be included, which impacts how QDROs are drafted. Let’s go over what that means for your divorce.
Understanding Profit Sharing Plans in Divorce
What Makes Profit Sharing Plans Different?
Profit sharing plans like the Revlon Employees Savings, Investment, Profit Sharing Plan can be more involved than straightforward defined contribution plans. That’s because they typically include:
- Salary deferral (401(k)) contributions made by employees
- Matching or profit-sharing contributions from the employer
- Vesting schedules on employer contributions
- Optional Roth (after-tax) components
Each of these components must be considered when dividing the account through a QDRO.
Vesting and Forfeiture Issues
One of the primary complications in dividing a profit sharing plan is the vesting schedule. Employer contributions are often subject to a graded vesting schedule. If a participant leaves before they’re fully vested, they forfeit the unvested portion. When dividing assets during divorce, it’s important to:
- Determine the vested versus unvested balance as of the division date
- Ensure the QDRO only divides the vested portion to avoid allocating benefits that later disappear
- Avoid speculative language about future vesting in the order
At PeacockQDROs, we pay close attention to this so that alternate payees get what they’re entitled to—and don’t lose benefits unexpectedly.
Addressing Outstanding Loan Balances
Many participants in plans like the Revlon Employees Savings, Investment, Profit Sharing Plan take loans against their accounts. This can create confusion when dividing the account. Here’s what to watch for:
- Loan balances reduce the transferable account value
- Some QDROs assign a percentage of the gross account balance, which may unintentionally reduce the alternate payee’s share if loans are not addressed properly
- A loan may or may not be assigned to the alternate payee depending on QDRO language
We always ask for current statements when preparing a QDRO, so we can account for loans properly and avoid unintentionally transferring debt.
Traditional vs. Roth Contributions
The Revlon Employees Savings, Investment, Profit Sharing Plan may include both pre-tax (traditional) and post-tax (Roth) balances. This distinction impacts how distributions are taxed down the road. Your QDRO should:
- Clearly state whether each type of balance is being divided
- Match the percentage or dollar amount to each account type
- Ensure Roth funds go to a Roth-qualified account in the name of the alternate payee
This is easy to overlook—many generic QDRO forms don’t mention this at all. At PeacockQDROs, we custom-draft each order to cover all account types accurately.
The Step-by-Step QDRO Process
Step 1: Obtain Plan Information
If you’re the alternate payee or your attorney, you’ll need basic plan documentation. This includes:
- Summary Plan Description (SPD)
- Plan administrator contact info
- Recent account statements
- Loan documentation (if applicable)
Many times, we help our clients obtain this information through subpoenas or discovery requests during the divorce process.
Step 2: Draft a Customized QDRO
The QDRO must be carefully tailored to the Revlon Employees Savings, Investment, Profit Sharing Plan. We use real plan documents and administrator guidance when drafting your order to avoid unnecessary rejection or revision.
Step 3: Preapproval (If Allowed)
Some plans allow or encourage pre-approval of a draft QDRO before filing it with the court. If the Revlon Employees Savings, Investment, Profit Sharing Plan allows this, PeacockQDROs takes care of sending the draft to the administrator and obtaining feedback before it’s finalized.
Step 4: Court Filing
Once the draft is approved (or finalized if no preapproval exists), we handle court filing on your behalf. This is where most “QDRO mills” stop—we don’t. We ensure your order is filed promptly and accurately through the appropriate jurisdiction.
Step 5: Plan Submission and Follow-Up
After the court signs the order, we submit the signed QDRO to the plan administrator and monitor its implementation. We follow up to confirm the account has been separated and the alternate payee’s share secured.
Common QDRO Mistakes to Avoid
Dividing a profit sharing plan like this requires precision. Make sure you avoid:
- Failing to specify Roth versus traditional balances
- Dividing unvested amounts that may later be forfeited
- Overlooking outstanding loan balances
- Using generic language without reference to the plan’s terms
We’ve written more about these mistakes here: Common QDRO Mistakes.
How Long Does It Take to Complete a QDRO?
Each case is unique, but several factors impact how long it takes to implement a QDRO, including court processing speed and responsiveness from the plan. Learn more in our breakdown here: 5 Factors That Determine How Long It Takes to Get a QDRO Done.
Why Work with 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. When it comes to a plan as nuanced as the Revlon Employees Savings, Investment, Profit Sharing Plan, you need that level of thoroughness.
Need Help Dividing the Revlon Employees Savings, Investment, Profit Sharing 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 Revlon Employees Savings, Investment, Profit Sharing 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.