Lee E. Seidel - Page 5

                                        - 4 -                                         
          Court of California (California Superior Court), County of                  
          Sutter, on April 27, 1999.                                                  
               With respect to the division of petitioner’s CWSC 401(k)               
          plan, Ms. Seidel and petitioner agreed to a Marital Settlement              
          Agreement, dated April 19, 1999, and entered by the California              
          Superior Court on April 27, 1999, which provided:                           
               the parties presently have a partial community interest                
               [$77,000.00] in Husband’s 401K and Husband has a partial               
               separate property interest in his 401K.  The parties agree             
               that the sum of SEVENTY SEVEN THOUSAND DOLLARS AND NO/100              
               ($77,000.00) shall be withdrawn from the 401K plan held in             
               Husband’s name.  Husband will then deduct the federal and/or           
               state penalties and the federal and state taxes and any                
               other taxes for early withdraw [sic] from that amount, and             
               from that remaining balance, Husband shall arrange for the             
               payment of the two (2) debts owed to First Community                   
               Financial Services, which are secured by deeds of trust on             
               wife’s home.  After those two (2) debts are paid, any                  
               balance of the proceeds shall be split equally between the             
               parties.  Any proceeds remaining in Husband’s 401K plan                
               shall be confirmed to Husband as his sole and separate                 
               The Marital Settlement Agreement was reviewed by Lillick &             
          Charles, LLP, Attorneys at Law (Lillick & Charles), and by the              
          administrator of the CWSC 401(k) plan, for whom Lillick & Charles           
          acted as counsel.  Based upon this review, the plan administrator           
          refused to comply with the Marital Settlement Agreement because             
          it did not constitute a Qualified Domestic Relations Order                  
          (QDRO).  Due to petitioner’s continuing employment, the plan                
          administrator would not distribute the called for amount to                 

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  Next

Last modified: May 25, 2011