Would you be able to explain this language from a QDRO? I am not sure if my ex has taken out loans on the plan after signing our separation agreement. Would this be possible?
“This Order assigns to the alternate payee an amount equal to $xxxx of the participant’s
Vested Account Balance under the Plan (identified in Section 1) as of the liquidation date.
If the amount assigned to the alternate payee exceeds the full vested value of the
participant’s account (less the amount of any outstanding loans, prior distributions, or
account losses) as of the valuation date preceding the liquidation date, the order will be
Valuation Date—The Valuation Date is the date on which the participant’s Vested
Account Balance will be valued in order to determine the alternate payee’s designated
portion in accordance with the terms of this order. Accounts are valued on a daily basis.
Liquidation Date—The liquidation date is the date the amount assigned to the alternate
payee is transferred from the participant’s Vested Account Balance to a separate account
established for the alternate payee in accordance with the terms of the QDRO. An
assignment as of the liquidation date assigns a portion of the participant’s current Vested