Qualified Domestic Relations Order

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Qualified Domestic Relations Order (QDRO)

A judgment, decree, or order that gives a pension plan participant access to retirement assets that must be used to pay an ex-spouse or dependent children.

Qualified Domestic Relations Order

In divorces, a court order giving one party a certain percentage of his/her ex-spouse's retirement plan. Usually, the courts split retirement plans in half through qualified domestic relations orders. The spouse receiving benefits from a retirement plan through a qualified domestic relations order becomes responsible for any taxes that would be due on his/her portion of the plan.
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An appeals court determined that posthumous nunc pro tunc orders filed by the ex-spouse of a retirement plan participant in Connecticut are valid qualified domestic relations orders (QDROs)-and thus have sufficient standing to direct the flow of the deceased's retirement plan assets in three retirement plans he participated in.
She also assisted employers with defined benefit plan funding challenges, employee benefits issues arising from corporate acquisitions and divestitures, and qualified domestic relations orders.
Presumably, the lack of usage had to do with the relative obscurity of qualified domestic relations orders.
Qualified domestic relations orders and qualified medical child support orders; and5
Separation from service at or after age 55 and qualified domestic relations orders apply only to 401(k) plans.
They describe cash balance plan design, administration, age discrimination rules, communication (including reporting and disclosure), plan costs, eligibility and vesting, distributions, accrual rules, coverage and nondiscrimination testing, "top heavy" testing (including determining key employees), investment of plan assets, plan termination, qualified domestic relations orders and determination letters.
Part III covers in-service distribution-related forms, including issues raised by qualified domestic relations orders.
Retirement funds also can be attached through qualified domestic relations orders and federal tax hens in or outside of a bankruptcy.
Qualified domestic relations orders, as defined in IRC section 414(p) [IRC section 401(a)(13)(B), ERISA section 206(d)(3)]
In a sort of thrust-and-parry encounter, each effort by the government to make asset preservation more difficult has been met with new legal end-runs: gifting, irrevocable asset preservations trusts, annuities, Miller Trusts, qualified domestic relations orders, life estates, and so on.
There are two other situations under which you can pull out funds, but these apply to employer-sponsored plans only: separation of service and qualified domestic relations orders.
In the coming year, Hewitt plans to expand these services and unveil several technologically enhanced products, including a full suite of reimbursement account capabilities for YSA, such as tuition reimbursement and transportation spending accounts, and a new self-service center for processing Qualified Domestic Relations Orders (QDRO) and Qualified Medical Child Support Orders (QMCSO).
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