The pilots at some airline had what was called a non qualified 401k. That’s where the company can fund it, but it goes poof if there’s a bankruptcy. This airline had just gone bankrupt.
Well, the way this plan’s document was written, the non-qualified balance would become guaranteed if the employee got a divorce.
So the pilots all got together and simultaneously got divorces from their wives, filed the paperwork to get the dough guaranteed, and then got remarried after it went through.
Written on June 16, 2023