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ATTENTION: In the following Model Separation Agreement, the Plaintiff is the Participant and the Defendant is the Alternate Payee. (You must insert the correct designations - Example: Plaintiff, Petitioner, Complainant, Defendant or Respondent). There are 7 model clauses in total.
View Individual Retirement Account (IRA) Agreement Language (PDF)
Plaintiff’s IRA to which the Qualified Domestic Relations Order “QDRO” will apply is [Insert Exact Name of IRA] (hereinafter referred to as IRA). Through a QDRO, Defendant is hereby granted a portion of the Plaintiff’s retirement benefits under the IRA as specified below.
Option 1: Percent as of a Date: (choose either A, B, C or D)
Amount of Defendant’s Benefit: The Defendant will be assigned an amount equal to [Insert % Amount] Percent of the Plaintiff’s Total Account Balance accumulated under the IRA
A. - as of [insert the Marriage End Date]. B. - as of [insert a Specific Date]. C. - as of the Date the Order is approved as a Qualified Domestic Relations Order by the IRA Administrator D. – equal to [(a) MINUS (b)] below, where (a) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date the Marriage Ended]; (b) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date of Marriage] (or the closest IRA valuation date thereto), and INCLUDING any and all investment earnings/losses that are attributable to such "pre-marital" account balance which have accrued during the marriage from [Insert the Date of Marriage] to [Insert the Date the Marriage Ended].
(a) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date the Marriage Ended]; (b) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date of Marriage] (or the closest IRA valuation date thereto), and INCLUDING any and all investment earnings/losses that are attributable to such "pre-marital" account balance which have accrued during the marriage from [Insert the Date of Marriage] to [Insert the Date the Marriage Ended].
Option 2: Percent as of a Date PLUS a Dollar Amount: (choose either A, B, C or D)
A. - as of [insert the Marriage End Date]. B. - as of [insert a Specific Date]. C. - as of the Date the Order is approved as a Qualified Domestic Relations Order by the IRA Administrator. D. - equal to the sum of [(1.) PLUS (2.)] below, where (1.) is equal to (a) MINUS (b)] below, (a) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date the Marriage Ended; (b) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date of Marriage] (or the closest IRA valuation date thereto), and INCLUDING any and all investment earnings/losses that are attributable to such "pre-marital" account balance which have accrued during the marriage from [Insert the Date of Marriage] to [Insert the Date the Marriage Ended]. (2.) is equal to [Insert $ Amount].
(1.) is equal to (a) MINUS (b)] below, (a) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date the Marriage Ended; (b) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date of Marriage] (or the closest IRA valuation date thereto), and INCLUDING any and all investment earnings/losses that are attributable to such "pre-marital" account balance which have accrued during the marriage from [Insert the Date of Marriage] to [Insert the Date the Marriage Ended]. (2.) is equal to [Insert $ Amount].
(a) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date the Marriage Ended;
(b) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date of Marriage] (or the closest IRA valuation date thereto), and INCLUDING any and all investment earnings/losses that are attributable to such "pre-marital" account balance which have accrued during the marriage from [Insert the Date of Marriage] to [Insert the Date the Marriage Ended].
(2.) is equal to [Insert $ Amount].
Option 3: Percent as of a Date MINUS a Dollar Amount: (choose either A, B, C or D)
A. - as of [insert the Marriage End Date] MINUS [Insert $ Amount]. B. - as of [insert a Specific Date] MINUS [Insert $ Amount]. C. - as of the Date the Order is approved as a Qualified Domestic Relations Order by the IRA Administrator MINUS [Insert $ Amount]. D. - equal to the sum of [(1.) MINUS (2.)] below, where (1.) is equal to (a) MINUS (b)] below, (a) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date the Marriage Ended; (b) equals the Plaintiff’s Total Account Balance accumulated under the IRA as of [Insert the Date of Marriage] (or the closest IRA valuation date thereto), and INCLUDING any and all investment earnings/losses that are attributable to such "pre-marital" account balance which have accrued during the marriage from [Insert the Date of Marriage] to [Insert the Date the Marriage Ended]. (2.) is equal to [Insert $ Amount].
Option 4: Percent as of a Date AFTER a Dollar Amount is Deducted: (choose either A, B or C)
Amount of Defendant’s Benefit: After deducting [Insert $ Amount] from Defendant’s Total Account Balance accumulated under the IRA
A. - as of [insert the Marriage End Date], the Plaintiff will be assigned an amount equal to [Insert % Amount] of Defendant’s remaining Total Account Balance accumulated under the IRA as of [insert the Marriage End Date]. B. - as of [insert a Specific Date], the Plaintiff will be assigned an amount equal to [Insert % Amount] of Defendant’s remaining Total Account Balance accumulated under the IRA as of [insert a Specific Date]. C. - as of the Date the Order is approved as a Qualified Domestic Relations Order by the IRA Administrator, the Plaintiff will be assigned an amount equal to [Insert % Amount] of Defendant’s remaining Total Account Balance accumulated under the IRA.
Amount of Defendant’s Benefit: The Defendant will be assigned an amount equal to [Insert $ Amount] of the Plaintiff’s Total Account Balance accumulated under the IRA
A. - as of [insert the Marriage End Date. B. - as of [insert a Specific Date. C. - as of the Date the Order is approved as a Qualified Domestic Relations Order by the IRA Administrator.
Investment Earnings: The Defendant’s assigned share of the benefits as set forth above SHALL [insert either ALSO or NOT] bear any interest and investment earnings or losses attributable thereon for periods subsequent to the [insert the Marriage End Date, Specific Date or the Date the Order is approved as a Qualified Domestic Relations Order by the IRA Administrator] "Assignment Date," until the date the IRA Administrator actually establishes a separate account(s) for the Defendant (the "Segregation Date").
Allocation of Award: Defendant’s award shall be allocated on a “pro-rata” basis from all of Plaintiff’s different accounts and investment funds.
Death of Plaintiff: If the Plaintiff dies prior to the transfer of funds, the Defendant will be treated as the Plaintiff’s beneficiary to the extent of Defendant’s assigned interest.
Death of Defendant: If the Defendant dies before the award is segregated into a separate account, the award shall devolve to Defendant’s designated beneficiaries or estate.
Restrictions on Withdrawls: Until the Defendant receives the award from Plaintiff’s IRA, the Plaintiff will not be permitted to receive any distributions from the IRA.
Processing The Qualified Domestic Relations Order: Defendant’s Attorney will be responsible of preparing, submitting and overseeing the approval of the QDRO until its final acceptance by the IRA Administrator as a QDRO. It is understood that Defendant’s Attorney may employ a QDRO drafting company to assist in the preparation and submission of the Order to the IRA administrator for approval as a QDRO.
