ACORD, INC. 403(B) RETIREMENT PLAN
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ACORD, INC. 403(B) RETIREMENT PLAN

This is for the benefit of people going through a divorce or attorneys assisting their clients with a divorce. Please don't reach out to us on live chat or our toll free number unless you're dealing with a divorce. SimpleQDRO isn't a Plan Administrator or affiliated with the plan or company listed on this page. We do draft QDROs for this plan, though. So if that is why you're here, please connect with us.
ACORD, INC. 403(B) RETIREMENT PLAN is a DEFINED CONTRIBUTION PLAN. This type of Plan generally establishes an account for each individual Participant where a defined amount is being contributed by the Participant, the employer or both. Some examples of this type of plan are 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Savings Plans and Profit-Sharing Plans.

With this type of plan, the Alternate Payee is typically awarded a portion of the Participant's account balance as of a specific date, expressed as either a percentage, or as a specific dollar amount, by way of a Qualified Domestic Relations Order (QDRO). The Plan will establish a separate account for the Alternate Payee and will usually allow the Alternate Payee the opportunity to utilize investment opportunities that are available for other participants in the Plan. This type of plan generally affords an Alternate Payee the ability to receive an immediate lump sum distribution (or withdrawal) upon approval of a QDRO. The Alternate Payee may also choose to transfer the awarded funds to another tax qualified account of his/her choice – for example, to an Individual Retirement Account (IRA). It is important for an Alternate Payee to 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 timing or nature of the transfer or withdrawal.

Features of the ACORD, INC. 403(B) RETIREMENT PLAN may include:

  • This Plan permits Participants to direct the investment of his or her retirement accounts.
  • This is a 403(b)(1) plan for certain employees of public schools and tax-exempt organizations. Participants include teachers, school administrators, professors, government employees, nurses, doctors, and librarians, and investments are in annuity contract(s)
  • This is a 403(b)(7) plan for certain employees of public schools and tax-exempt organizations. Participants include teachers, school administrators, professors, government employees, nurses, doctors, and librarians, and investments are in a custodial agreement where the investments are typically in mutual funds
  • This is a plan that provides for total or partial participant-directed account(s). In other words, this Plan uses a default investment account for participants who fail to direct assets in their account.


DISCLAIMERS

The Plan features and descriptions presented are provided only as examples and general descriptions a particular type of plan. Participants and Alternate Payees should ALWAYS review the applicable Summary Plan Description for a detailed description of the specific terms and options for the specific Plan in question.

The information provided on this page is based upon the most recent Plan tax filings available. The terms of a specific plan may have changed since the most recently available tax filing, and as a result, these descriptions and features may not be current. SimpleQDRO makes no representations as to accuracy of these descriptions.

SimpleQDRO is neither the administrator, nor a representative of this Plan. SimpleQDRO provides this information merely as a courtesy and makes no warranties as to the current status or accuracy of these descriptions.
Plan & Company Information

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Company
ACORD, INC.
7 BARNES INDUSTRIAL ROAD SOUTH
WALLINGFORD, CT 06492
203-269-3599
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Plan Name
ACORD, INC. 403(B) RETIREMENT PLAN
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Plan Administrator
ACORD, INC.
7 BARNES INDUSTRIAL ROAD SOUTH
WALLINGFORD, CT 06492
203-269-3599
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ACORD, INC. 403(B) RETIREMENT PLAN is located in New Haven County in WALLINGFORD, CT. If you need a QDRO in New Haven County or WALLINGFORD, CT just know that SimpleQDRO drafts QDROs for customers in all 50 states.
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