A Kings New York Qualified Domestic Relations Order (QDR) is a legal document that divides and assigns specific retirement plan benefits to an ex-spouse or alternate payee as part of a divorce settlement. This order is designed to ensure that the division of retirement assets is carried out in a fair and equitable manner. The Kings New York QDR follows the guidelines set forth by the Employee Retirement Income Security Act (ERICA) and Internal Revenue Code (IRC). It allows for the division of various types of retirement plans, including 401(k) plans, pension plans, and other employer-sponsored retirement accounts. There are different types of Kings New York QDR Os, depending on the nature of the retirement plan being divided: 1. 401(k) QDR: This type of QDR is utilized when dividing 401(k) retirement plans. It outlines how the assets are to be distributed, whether through a lump-sum payment, rollover into another qualified retirement account, or periodic payments. 2. Pension QDR: Pension plans typically provide a monthly income stream during retirement. A pension QDR specifies the ex-spouse's entitlement to a portion of the benefits, usually calculated based on the years of marriage during which the retirement benefits were earned. 3. Defined Benefit Plan QDR: Under a defined benefit plan QDR, the ex-spouse may receive a specific monthly benefit based on a formula provided by the plan's administrator. This type of QDR calculates the division of retirement benefits based on factors such as the employee's years of service, salary history, and age at retirement. 4. Profit Sharing Plan QDR: This type of QDR encompasses the division of benefits from profit-sharing plans. It determines how these accumulated contributions, made by an employer on behalf of an employee, are divided between both parties. When it comes to Kings County, New York, the QDR should comply with the specific jurisdiction's guidelines and requirements. It is crucial to consult with an attorney who specializes in family law and retirement benefits to ensure the accurate preparation and submission of the Kings New York QDR.