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Term Definition Alternate Payee - party other than the employee who will be paid pension benefits in the alternative.
Application in Divorce Pensions are marital property and are subject to distribution.

As it applies to divorce, the alternate spouse, usually a wife who was a stay-at-home mother.

Since the portion earned in a pension or order, which instructs the plan administrator to pay the Alternate Payee a specific percentage upon retirement.

See also Qualified Domestic Relations Order (QDRO).