SRS APPROVED DRO (DOMESTIC RELATIONS ORD] September 18, 2015 (2024)

On July 16, 2015 aOrderwas filedinvolving a dispute betweenandfor DIVORCEin the District Court of Tarrant County.

 
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 SRS Approved ORO (Domestic Relations Order) 322"d JUDICIAL DISTRICT COURT CITY OF FORT WORTH COUNTY OF TARRANT STATE OF TEXAS In the Marriage of: STACEY L. WHITEHILL, Petitioner, Case No.: 322-579457-15 Stipulated Domestic Relations Order and WILLIAM J. WHITEHILL, Respondent This matter having come before the court on the stipulation of the parties as set forth below, and the Court finding that the parties have agreed on the terms under which certain retirement benefits of WILLIAM J. WHITEHILL shall be divided, then this Order is entered pursuant to the court's authority under the applicable domestic relations laws of the state of TEXAS. IT IS ORDERED: I. Nature of this Order: This Order assigns and recognizes the existence of an alternate payee's right to receive a portion of a participant's benefits payable in a defined contribution plan, and authorizes the administrator of such plan to pay such portion to the alternate payee. This order is intended to be a qualified domestic relations order ("QDRO") within the meaning of§414(p) of the Internal Revenue Code ("Code"). Statements of Fact 2. Participant Information: The name and address of the plan participant to which this Order applies are: Name: WILLIAM J. WHITEHILL Address: 2821 FOSSIL RUN BLVD., FORT WORTH, TEXAS 76131 3. Alternate Payee Information: The name and address of the alternate payee to which this Order applies are: Name: STACEY L. WHITEHILL court's Minutes Address: 2821 FOSSIL RUN BLVD., FORT WORTH, TEXAS 76131 Page I of3 ufrransaction # 0 • SRS Approved ORO (Domestic Relations Order) 4. Plan Name: The name of the plan to which this Order applies is the NORTHWEST PIPE COMPANY ("Plan"). This Order shall also apply to any successor plan to the Plan, or to any other plan that incurs liability for payment of the Participant's benefits in the Plan. 5. Benefits Assigned to the Alternate Payee: The portion of the Participant's account balance in the Plan payable to the Alternate Payee is of the Participant's vested account balance as of 9~I g"" t S [plus income or losses allocable on that amount from that date to the date the Alternate Payee's portion is segregated from the Participant's account]. 6. If the investments of the Participant's account include one or more loans to the Plan Participant, the Participant's account balance shall be determined as if the loan(s) were fully repaid as of the date the account balance is determined. However, the Alternate Payee's account shall be funded exclusively with assets other than the participant loan(s). Time and Manner of Payment 7. If the Plan permits an immediate distribution of the benefit described in Paragraph 5 of this Order, the Alternate Payee may request a distribution of the benefit as soon as administratively feasible following the date that the Plan Administrator determines that this order is a QDRO. If the Plan does not permit an immediate distribution, the Alternate Payee may elect to have the Plan distribute the benefit designated in Paragraph 5 of this Order at the Participant's earliest retirement age as defined by Code §414(p)(4). 8. The Alternate Payee may elect to receive the benefit described in Paragraph 5 of this Order in any form of distribution that the Plan permits, except in the form of a joint and survivor annuity with a subsequent spouse as the beneficiary. 9. The applicable fee for administering this order shall be deducted: Equally (50% I 50%) from the accounts of the Participant and Alternate Payee. I 0. The Alternate Payee assumes sole responsibility for the tax consequences of any distribution under this Order. II. The Plan shall permit the Alternate Payee to designate a death beneficiary for the benefit described in Paragraph 5 of this Order to the full extent permissible under the Plan. If the Alternate Payee dies before all of the benefit has been distributed, the Plan shall distribute any unpaid benefits to the Alternate Payee's designated beneficiary. If the Alternate Payee dies without having designated a beneficiary, the Plan shall distribute any unpaid assigned benefits to the Alternate Payee's estate as soon as administratively feasible following the date that the Plan Administrator receives adequate notice of the Alternate Payee's death. 12. Should the Participant die before the terms ofthis order are completely carried out, the Alternate Payee shall be treated as the surviving spouse of the Participant to the extent of the benefit described in Paragraph 5 of this order. The sole purpose of this paragraph is to ensure payment to the Alternate Payee in case of the Participant's death prior to payment of the Plan of the benefit described in Paragraph 5 of this Order. Page2 of3 • .. .· SRS Approved ORO (Domestic Relations Order) 13. The Alternate Payee shall provide the Plan with any subsequent changes in the Alternate Payee's mailing address until such time as the Plan has distributed all of the assigned benefits. The Alternate Payee and the Participant shall provide such other information and shall complete such forms as the Plan may reasonably require from one or the other to administer the Order. Savings Clause Pursuant to Code §414(p)(3) 14. This Order is not intended and shall not be construed in such a manner as to require the Plan to provide any type or form of benefit, or any option the Plan does not otherwise provide; to require the Plan to provide increased benefits; or to require the Plan to pay any benefits to the Alternate Payee that are required to be paid to another alternate payee under another order previously determined to be a qualified domestic relations order. The Court retains jurisdiction with respect to this Order to the extent required to establish or to maintain its qualified status. WILLI , Respondent Page 3 of3