COLLECTED WISDOM™ - on Qualified Domestic Relations Orders -- QDROs

You are the plan administrator for your company’s retirement plan. A plan participant comes to you for information and advice about the possible effects that an impending divorce might have on his benefits. What does the Employee Retirement Income Security Act (ERISA) require of you? Here is some information that will help.

What Are the Limitations on QDROs - Summary: As state courts increasingly use QDROs routinely for satisfaction of past due support obligations from otherwise non-assignable retirement plan funds, more legal challenges to QDROs can be expected and the limitations on QDROs will be further defined. This article will discuss the Congressional intent behind the establishment of QDROs and the limitations that should be recognized in their use today. Located at: Journal Of The Missouri Bar, April 2005. Click on headline for full article.

Impact of QDROs on Top Heavy Determinations - Summary: A question on QDROs and top-heavy testing for DC plans. Could you provide your opinion on how distributions to, and accounts established for, Alternate Payees are treated for top-heavy testing? Located at: Reish Luftman Reicher & Cohen, August 2004. Click on headline for full article.

QDRO Distributions - Summary: QDRO distribution document issues and a commentary on handling QDROs in general. Located at: McKay Hochman, August 2004. Click on headline for full article.

DOL Issues New Guidance on Modified QDROs - Summary: The Department of Labor (DOL) has issued Advisory Opinion 2004-02A, providing guidance to retirement plan administrators handling qualified domestic relations orders (QDROs) that are modified. The guidance states that plan administrators must review modifications made by a court to an existing QDRO in determining whether the revisions satisfy the statutory requirements for a QDRO, and if so determined, apply the modifications prospectively. Located at: Milliman USA , March 2004. Click on headline for full article.

QDROs: The Division of Pensions Through Qualified Domestic Relations Order - Summary: This document provides general information about the qualified domestic relations orders (QDROs) under the provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986. Located on: U.S. Department of Labor. Click on headline for full article.

No QDRO Equals No Benefits - Summary: We recently represented one of the nation's largest retailers in an action filed in state court by the former spouse of a participant in the retailer's 401(k) plan. The court granted our request to dismiss the claim, agreeing that the claim was preempted by ERISA. The case demonstrates how important it is for counsel in cases involving employee benefit plans to be familiar with the interplay between ERISA and state laws which may affect plans and their participants. Located on: Reish Luftman. Click on headline for full article.

QDRO's - Summary: When you need to transfer an interest in a qualified retirement plan, you'll need to use a QDRO, a Qualified Domestic Relations Order. A short item on QDRO Must Have's, Must Not's, Lawyer Issues, and Issues For You. Located on: Divorceinfo.com. Click on headline for full article.

Seven Key Questions You Need to Ask Before Your Divorce is Finalized - Summary: To make an intelligent decision on how to divide a pension, find out what kind of pension it is, how it is funded, how it pays out, and ask these seven key questions before your divorce is finalized. Located on: Women's Institute for a Secure Retirement. Click on headline for full article.

Deferred Compensation, Retirement Plans & Divorce - Summary: Deferred compensation refers to pension plans, 401K plans, IRAs and other retirement assets. Such plans are divisible as part of a property settlement in divorce regardless of which party is named on the plan. How they are divided depends on the value and nature of the asset. Located on: Freeadvice.com. Click on headline for full article.

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