This is a cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan and provides for an election by employees to defer part of their compensation or receive these amounts in cash.This Plan permits Participants to direct the investment of his or her retirement accounts.
It is critical that the Alternate Payee consult with a tax professional before making any transfers or withdrawals in order to be fully informed as to any potential tax consequences arising from either the nature or timing of the withdrawal or transfer. Alternatively, the Alternate Payee may choose to transfer the awarded funds to another tax deferred account of their choice - for example, to an IRA (Individual Retirement Account). This type of plan generally allows an Alternate Payee to receive an immediate lump sum distribution (or withdrawal) upon approval of a QDRO. If permitted by the terms of the plan, the Alternate Payee may have the opportunity to utilize investment options that are available for other plan participants. Once a QDRO is approved, the Plan Administrator will establish a separate account for the Alternate Payee. With a few exceptions, a QDRO containing a marital coverture formula for division of a defined contribution account will likely be rejected by the appropriate Plan Administrator. Most defined contribution plans do not permit an award to be expressed as "marital coverture formula", such as: "50% of the amount accrued from the date of marriage to the date of separation or divorce". In most cases, the Alternate Payee’s portion must be expressed as either a specific dollar amount, or as a percentage of the account. When dividing a defined contribution plan, the Alternate Payee is typically awarded a portion of the Participant's account balance as of a specific date (the "Valuation Date" or "Assignment Date"). A division of this type of account must be done by way of a Qualified Domestic Relations Order (QDRO). Examples of this plan type are Employee Stock Ownership Plan (ESOP), Profit-Sharing Plans, 401(a), Savings Plans and 401(k). Regular contributions are then made by the Employer, the Participant, or both. Typically, a Company Sponsor (Employer) of this type of plan creates an account for every individual Participant.
401(K) PLAN is a DEFINED CONTRIBUTION PLAN. You can connect with Luma on Facebook, on Twitter and on Instagram.LUMA SODA, INC. Luma is a pretty new company so I’m sure they’d really appreciate some social love.
You can learn all about Luma here and use promo code meloutnumbered to receive a 15% discount on your subscription. Luma is made right here in the US, just North of San Francisco. Luma is committed to their customers, and the mission of creating better alternatives to soda for the world, and that’s why they strive to provide a delicious, healthier beverage in an honest fashion, without compromising flavor. I mean who knew that a soda could not only taste great, but be better for you too? Well Luma has done it, while keeping that fizz we’soda lovers crave! As I mentioned, to keep the calories low, Luma uses natural sweeteners like honey and monk fruit juice.Īs a daily soda drinker, Luma is a game changer for me and I couldn’t be happier to have found this more natural soda. There are no artificial preservatives in Luma either and each 12 ounce can is just 25 calories!?And while diet sodas contain ingredients like aspartame and sucralose, Luma does not.
Luma is full of natural flavors and colors too, getting these from fruits and vegetables. In fact, you’ll find just 3-4 grams of actual sugar in Luma, compared to the typical 40-48 grams of sugar that you would find in many other sodas. Available in 4 delicious flavors Cola, Cherry Cola, Blood Orange and Lemon Lime, Luma uses honey and monk fruit juice as natural sweeteners. Luma is a new, great tasting soda, quite unlike the rest on the market. Soda is definitely one of my biggest weaknesses and something that I’ve tried hard to get away from, but just can’t seem to break the habit from.?I’m sure that I’m not the only one who craves soda but would much rather sip on something that’s a little better for me so I’m excited to partner with Luma today to share all about their more natural soda.