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A QDRO is commonly separate from a judgment of divorce, and provides the specifics of how the funds are to be divided.OMNI will review the court order to ensure compliance with applicable regulatory requirements.

A Qualified Domestic Relations Order (QDRO) is a court order necessary for the distribution of a participant’s account to a former spouse.Many 403(b) Service Providers allow for participants to take a loan against the assets held in their plan.If your Service Provider allows for loans, you will start the process by contacting them directly to request this transaction.We strongly advise confirming the available amount with your Service Provider before submitting this request A hardship distribution is a distribution of funds from your 403(b) account due to an immediate and heavy financial need.Six circumstances are deemed by the IRS to constitute an immediate and heavy financial need: only approves hardship distributions meeting one of the six categories and requires supporting documentation.

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