MODEL QDRO LANGUAGE

[Pages:3]MODEL QDRO LANGUAGE

TEXA$AVER 401(k) PLAN

Important Information: Please read carefully. This Model QDRO satisfies the technical requirements for QDROs under the Plan and the Internal Revenue Code. It is only intended to assist counsel in expediting the QDRO approval process. It is not meant to be a substitute for expressing the intent of the parties or the negotiated terms of the separation agreement regarding the division of the Member's interest in the Plan benefit. It is the drafting counsel's responsibility to properly define the terms of the applicable QDRO.

IT IS HEREBY ORDERED AS FOLLOWS:

1. Effect of this Order as a Qualified Domestic Relations Order: This Order creates and recognizes the existence of an Alternate Payee's right to receive a portion of he Member's benefits payable under an employer-sponsored defined contribution plan established under Section 401 of the Internal Revenue Code (the "Code").

2. Member Information: The name, last known address, Social Security number and date of birth of the plan "Member" is:

Name: _______________________________ ("Member")

Address: ________________________________________

Social Security Number: ___________________________

Date of Birth: ____________________________________

Member's Attorney Information:

Name of Attorney: ________________________________

Address: ________________________________________

Phone Number: __________________________________

3. Alternate Payee Information:

Name: _______________________________ ("Alternate Payee")

Address: ________________________________________

Social Security Number: ___________________________

Date of Birth: ____________________________________

Alternate Payee's Attorney Information:

Name of Attorney: ________________________________

Address: ________________________________________

Phone Number: __________________________________

The Alternate Payee shall have the duty to notify the plan administrator in writing of any changes in his/her mailing address subsequent to the entry of this Order.

4. Plan Name: The Name of the Plan to which this Order applies in the Texa$aver 401(k) Plan (hereinafter referred to as "Plan").

5. Pursuant to State Domestic Relations Law: This Order is entered pursuant to the authority granted in the applicable domestic relations law in the State of [Texas] [enter other state if action is commenced in a state other than Texas]

6. For Provision of Marital Property Rights and/or Spousal Support: This Order relates to the provision of [marital property rights] [spousal support] to the Alternate Payee as a result of the Order of [Divorce] [Dissolution] between the Member and Alternate Payee.

7. Amount of Alternate Payee's Benefit (Fixed Dollar Basis): This Order assigns to the Alternate Payee a portion of the Member's Total Account Balance accumulated under the Plan in an amount of $_______________, plus any interest/investment earnings or losses attributable thereon from the date of this Order to the date of total distribution.

In the event the Alternate Payee does not elect an immediate distribution, his/her share of the benefits described above shall be segregated and separately maintained in an account established on his/her behalf and shall additionally be credited with any interest/investment earnings or losses attributable thereon from the date of this Order to the date of total distribution. The Alternate Payee's share of the benefits shall be allocated on a "pro-rata" basis among all of the investments maintained on behalf of the Member under the Plan.

8. Commencement Date and Form of Payment to Alternate Payee: If the Alternate Payee so elects, he/she shall be paid his/her benefits as soon as administratively feasible following the date this Order is approved as a QDRO by the Plan Administrator or at the earliest date permitted under the Plan or Section 414(p) of the Code, if later. Benefits will be payable to the Alternate Payee in any form or permissible option otherwise available to members and Alternate Payees under the terms of the Plan, including, but not limited to a single lump-sum cash payment.

9. Alternate Payee's Rights and Privileges: On or after the date that this Order is deemed to be a Qualified Domestic Relations Order, but before the Alternate Payee receives his/or her total distribution under the Plan, the Alternate Payee shall be entitled to all of the rights and election privileges that are afforded to Plan beneficiaries, including, but not limited to, the right to designate a beneficiary for death benefit purposes.

10. Death of Alternate Payee: In the event of Alternate Payee's death prior to his/her receiving the full amount of benefits called for under this Order and under the benefit option chosen by the Alternate Payee, such Alternate Payee's beneficiary(ies), as designated on the appropriate form (or in the absence of such beneficiary designation, his/her Estate), shall receive the remainder of any unpaid benefits under the terms of this Order, an in accordance with the benefit option selected by the Alternate Payee.

11. Death of Member: In the event that the Member dies prior to the establishment of a separate Account in the name of the Alternate Payee, such Alternate Payee shall be treated as the surviving spouse of the Member for any death benefits payable under the Plan to the extend of the full amount of his/her benefits as called for under Paragraph 7 of this Order. Should the Member predecease the Alternate Payee after the new Account has been established on his/her behalf, such Member s death shall in no way affect Alternate Payee s right to the portion of his/her benefits as stipulated herein.

12. Savings Clause: This Order is not intended and shall not be construed in such a manner as to require the Plan:

(a) to provide any type or form of benefit option not otherwise provided under the terms of the Plan;

(b) to require the Plan to provide increase benefits determined on the basis of actuarial value; or

(c) To require the payment of any benefits to the Alternate Payee which are required to be paid to another Alternate Payee under another order which was previously deemed to be a QDRO.

13. Certification of Necessary Information: All payments made pursuant to this Order shall be conditioned on the certification by the Alternate Payee and the Member to the Plan Administrator of such information as the Plan Administrator may reasonably require from such parties to make the necessary calculation of the benefit amounts contained herein.

14. Continued Qualified Status of Order: It is the intention of the parties that this QDRO continue to qualify as a QDRO under Section 414(p) of the Internal Revenue Code, as it may be amended from time to time, and that the Plan Administrator shall reserve the right to reconfirm the qualified status of the Order at the time benefits become payable hereunder.

15. Tax Treatment of Distributions Made Under this Order: For purposes of Sections 402(a) (1) and 72 of the Internal Revenue Code, any Alternate Payee who is the spouse or former spouse of the Member shall be treated as the distribute of any distribution or payments made to the Alternate Payee under the terms of this Order, and as such, will be required to pay the appropriate federal income taxes on such distribution.

16. Continued Jurisdiction: The Court shall retain jurisdiction with respect to this Order to the extent required to maintain its qualified status and the original intent of the parties as stipulated herein.

17. Plan Termination: In the event of a Plan termination, the Alternate Payee shall be entitled to receive his/her portion of Member s benefits as stipulated herein in accordance with the Plan s termination provisions for members and beneficiaries.

IT IS FURTHER ORDERED and ADJUDGED that this judgment shall become effective and final upon it being filed with the Clerk of this Court.

___________________________________ Judge Presiding

_________________________________

Date: _________________

Countersigned

APPROVED FOR ENTRY

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