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50% of the account balance as of July 7, 2000), plus any investment gains or losses attributable thereon from that date until the date the Alternate Payee receives a distribution from the Plan. Under most plans, it is possible to award the Alternate Payee a portion of the Employee's account balance as of a specific date (i.e. By using a QDRO to award funds from this type of plan, early withdrawal penalties are avoided, and the Alternate Payee will be held responsible for the taxes on any distribution he/she receives from the Plan. If the Alternate Payee chooses, it is usually possible to transfer the funds awarded to an IRA or other tax qualified account of his/her choice. MagnetStreet () is a well-known event invitation store which competes against brands like Minted, Hallmark and Evite.
The Plan will establish a separate account for the Alternate Payee, and offer the Alternate Payee the same investment opportunities that are available for other participants. Examples of this type of plan are 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Savings Plans and Profit Sharing Plans.Īn Alternate Payee can be awarded a portion of the Employee's account pursuant to a QDRO. MAGNETSTREET INC EMPLOYEES 401K SAVINGS AND PROFIT SHARING PLAN is a Defined Contribution Plan which has an account specified for the individual employee where a defined amount is being contributed to the plan by the individual, the employer or both. MAGNETSTREET INC EMPLOYEES 401K SAVINGS AND PROFIT SHARING PLAN This page is provided for informational purposes only.
It is not related or connected to the retirement account listed on this page. QdroDesk is a private company that only helps with the divorce process. Do not call QdroDesk for retirement account information unless it is in regards to a divorce. MagnetStreet designs and produces a variety of high quality magnets, cards, and other printed stationery. MagnetStreet is an online, full-service stationery store that helps people and businesses use personalized products to share its unique message with others. VERY IMPORTANT! The information on this page is for people going through a divorce or attorneys helping their clients. Business Services Minnesota, United States 25 Employees.
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