THE DISTRIBUTION OF A SPOUSE'S PENSION, PROFIT-SHARING AND RETIREMENT ACCOUNTS THAT ACCRUED DURING THE MARRIAGE IN MANY CASES IS A MAJOR ASSET OF THE MARITAL ESTATE.  IT IS IMPERATIVE THAT THE SERVICES OF AN ATTORNEY, LAWYER OR LAW FIRM FAMILIAR WITH ILLINOIS FAMILY LAW BE SECURED.

An important asset to be divided between the parties in a divorce action is a spouse's pension / retirement plan accounts and deferred compensation accounts which accrued during the marriage between the parties. In many cases this asset can have a higher value than the party's equity in real estate but often a person does not even consider it. The court has the authority to enter a qualified domestic relations order (QDRO) or a qualified Illinois domestic relations order (QILDRO) requiring the other spouse's plan administrator to set up an account in the name of the non-employee ex-spouse indicating that those are his/her funds and the employee ex-spouse cannot touch those funds.

It is imperative that once the QDRO or QILDRO is entered that it is served upon the retirement plan administrator to guarantee that a separate account is set up in the name of the spouse not employed by the employer who participates in the plan. Failure to do so may and probably would result in the other spouse withdrawing all of the funds in the retirement account for his benefit only and forcing the other spouse to chase him down and take him back to court to seek to find him in contempt. 

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