This type of plan generally affords an Alternate Payee the ability to receive an immediate lump sum distribution (or withdrawal) upon approval of a QDRO. The Plan will establish a separate account for the Alternate Payee and will usually allow the Alternate Payee the opportunity to utilize investment opportunities that are available for other participants in the Plan. With this type of plan, the Alternate Payee is typically awarded a portion of the Participant's account balance as of a specific date, expressed as either a percentage, or as a specific dollar amount, by way of a Qualified Domestic Relations Order (QDRO). Some examples of this type of plan are 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Savings Plans and Profit-Sharing Plans.
This type of Plan generally establishes an account for each individual Participant where a defined amount is being contributed by the Participant, the employer or both. Not only does the resulting space perform more efficiently, but it also meets the functional needs of its new tenant.Ī beautiful homage to a seminal structure in Hawaii’s history, the resulting HDCC headquarters maintains the character of the building while ushering it into the 21st century.HAWAIIAN DREDGING CONSTRUCTION COMPANY PROFIT SHARING PLAN is a DEFINED CONTRIBUTION PLAN. We also replaced windows to attain better thermal acoustic performance, all while preserving the existing structure’s ogee moldings to honor the original appearance. To maximize natural light, perimeter offices retained their 12-foot ceiling height, shared spaces were moved to the core of the 2nd and 3rd floors to maximize daylight for open offices, plus occupancy and daylight sensor controls were employed in individual offices. We restored the historic lobby, grand staircase, terracotta balustrade and roughly 2,000 square feet of wood block flooring. The HDCC headquarters project showcased our strategic approach to reviving a quintessential Hawaii landmarks. Our comprehensive renovation restored the building to its former glory while modernizing-and maximizing the energy efficiency of-a local landmark for the largest construction company in Hawaii. Hawaiian Dredging Construction Company (HDCC) proved the ideal tenant to take over the building formerly occupied by the Honolulu Advertiser.
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