Understanding the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan in Divorce
If you or your spouse has an interest in the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan and you’re getting divorced, you’ll likely need a Qualified Domestic Relations Order (QDRO). This legal document ensures that the retirement benefits earned during the marriage are divided accurately and in accordance with domestic relations law.
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.
Plan-Specific Details for the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan
- Plan Name: West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan
- Sponsor: Unknown sponsor
- Address: 50 Capital Avenue
- Start Date: June 1, 1974
- Plan Year: January 1, 2024 – December 31, 2024
- Industry: General Business
- Organization Type: Business Entity
- Status: Active
Note: Information about the Employer Identification Number (EIN), Plan Number, number of plan participants, and total plan assets is currently not available. However, this type of documentation is typically required when submitting a QDRO, so it should be obtained from the Plan Administrator or in the divorce discovery process.
What Is a QDRO and Why Do You Need One?
A Qualified Domestic Relations Order (QDRO) is a court order used to divide certain types of retirement plans—including profit sharing plans—during a divorce. Without a QDRO, the plan administrator cannot legally divide the account or make payments to an alternate payee (usually the former spouse).
This is especially true for ERISA-governed plans like the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan, which requires strict compliance with federal rules.
Key Aspects of Profit Sharing Plans in Divorce
When dividing a profit sharing plan like the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan, there are specific issues that need to be addressed:
Employee and Employer Contributions
Both the employee’s own contributions and the employer’s allocations that accrued during the marriage may be considered marital property. However, employer contributions may be subject to a vesting schedule, which could affect how much of that amount is actually divisible.
Vesting Schedule & Forfeitures
Profit sharing plans often use a graded or cliff vesting schedule. This matters because only the vested portion of the employer contributions can be awarded via QDRO. Any unvested amounts are typically forfeited upon separation or termination and cannot be assigned to an ex-spouse.
It’s important to confirm the vesting status as of the date of divorce or separation before the QDRO is drafted.
Loan Balances and Repayment
Many employer plans allow participants to borrow against their retirement accounts. If the participant has an outstanding loan at the time the QDRO is issued, this will affect the divisible balance.
QDROs should specify how to handle loans—whether to divide the account before or after subtracting the loan balance. This can significantly impact how much each party receives.
Roth vs. Traditional Subaccounts
If the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan includes both traditional and Roth subaccounts, the QDRO must clearly define how each type is to be divided. Roth accounts, which are funded with after-tax dollars, have different tax treatment than traditional (pre-tax) accounts.
Failing to address this in your order could lead to unintended tax consequences or delays in payment.
Drafting a QDRO for the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan
Start with the Right Plan Information
To draft an enforceable QDRO, you’ll need the official plan name—West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan—as well as the plan sponsor information, which is currently listed as “Unknown sponsor.” You’ll also want to collect the EIN and Plan Number, both of which are usually available from plan statements or through subpoena/discovery in a divorce case.
Select a Division Method
Common division methods include:
- Percentage of Account Balance: For example, awarding 50% of the vested balance as of the date of divorce.
- Flat Dollar Amount: Specifying a set dollar amount to be allocated to the alternate payee.
- Separate Interest vs. Shared Interest: Most profit sharing plans use a separate interest model, meaning the alternate payee’s share is set aside as their own account within the plan, usually without regard to participant’s retirement age.
Specify Gains and Losses
Your QDRO should clarify whether the alternate payee’s portion will include investment gains or losses from the assignment date to the distribution date. If this isn’t stated, the plan may default to its own interpretation, which could cause conflict later.
Plan Procedures and Communication
Even though the plan administrator for the West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan may not publicly list their procedures, it’s best practice to request a copy of the plan’s QDRO guidelines before submitting an order. Having pre-approval before court filing can prevent rejections and delays.
Once the QDRO is filed with the court and approved, it should be sent to the plan administrator for final acceptance and processing. At PeacockQDROs, we handle all of that for our clients—including coordination with the court and follow-ups with the plan.
Avoiding Common Mistakes
Many DIY or poorly drafted QDROs get rejected because they fail to account for:
- Unvested employer contributions
- Outstanding loan balances
- Omissions related to Roth subaccounts
- Failure to award gains/losses
- Ambiguities in dates or division formulas
To learn more, read our article on common QDRO mistakes.
How Long Does It Take?
Timeframes vary depending on court schedules, responsiveness of parties, and whether the plan requires pre-approval. We detail the timeline factors in this breakdown.
Why Choose PeacockQDROs?
We maintain near-perfect reviews and pride ourselves on a track record of doing things the right way. At PeacockQDROs, you’re not just hiring a document preparer—you’re getting a full-service QDRO solution. We take care of every step needed to divide your West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan efficiently and accurately.
Review our services and frequently asked questions on our QDROs page, or reach out through our contact form for a consultation.
Final Thoughts
The West Tennessee Bone & Joint Clinic, P.c. Profit Sharing Plan can be divided as part of divorce proceedings, but doing so correctly requires a legally compliant QDRO that considers every detail—from loans to vesting to account types. If you want to protect your financial future and avoid delays or rejections, get experienced QDRO help early in the process.
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 West Tennessee Bone & Joint Clinic, P.c. 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.