Division of 401k: Are there options when division is not made?
My divorce was finalized June 18, 2003. One of the stipulations was that I be awarded a portion of my ex-husband's 401k Plan.
Before the divorce, my ex-husband took out a loan against the 401k Plan and purchased a car, some computer equipment, and other items. After the division, his portion was debt and the items he'd purchased, and mine was almost the full balance not borrowed against.
My ex-husband has an attorney. I don't, and I didn't during negotiations.
I was told by my ex-husband's attorney that division may take as long as 6 months due to the transfer of ownership of his employer.
Now, after several inquiries to same attorney, and several answers that tell me I must wait a few more months, I'm still awaiting the division of the 401k Plan.
My questions are as follows:
1. Is there a legal procedure or process I can initiate to have the division completed?
2. Are there options to collect the portion due me, i.e., lien on ex-husband's car, attach his wages, etc.?
3. I understand there will be a 10% penalty, but could I withdraw my portion of the Plan now?
4. Are there options available to me that I'm not aware of?