Pensions, Divorce and QDROs
Key Points
The most common reason for drafting a QDRO or DRO is to effectuate the division of a pension pursuant to an equitable distribution agreement in a divorce. However, QDROs can be used for the provisions of child support or other marital property rights, such as alimony, in which a plan participant may be delinquent. A QDRO or DRO must contain certain general information about the two parties, such as their addresses, social security numbers, dates of birth, as well as, specific information that would be set forth in the guidelines of the plan to which the order applies. A QDRO or DRO cannot instruct a pension plan to disburse benefits to an alternate payee or give an alternate payee any rights or privileges that are not set forth in their guidelines.
Suggested Reading
Resources & Tools
GOOD LEGAL ADIVCE -- The division and distribution of pensions often becomes very complicated, and these issues probably generate more appeals and reversals on appeal than any other issue in equitable distribution. Woman must learn how to ask the right questions when facing the distribution of pensions and retirement plans.
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