Who Determines Whether An Order Will Become a QDRO or Not?
Posted on May 23, 2014 6:49am PDT
Q. Marissa B. of Wisconsin wants to know: "Who Determines Whether An Order Will Become a QDRO or Not?"
A. Spencer from the QDRO Department of Pension Evaluators & QDROS Of
Troyan, Inc Associates Group answers: "The Plan Administrator of the retirement plan that provides the benefits
affected by the proposed QDRO is the individual that initially is responsible
for determining whether a domestic relations order is a QDRO, as defined
by the Employee Retirement Income Security ACT (ERISA). As plan fiduciaries,
they bear the duty and responsibility with respect to determining whether
a domestic relations order is a QDRO. As such, they establish guidelines
and procedures to determine whether an order is a QDRO, and follow such
rule when presented with a proposed order. It is prudent to submit a proposed
QDRO to the plan administrator for pre-approval prior to submitting the
documentation to the court. Often times a large Corporation is contracted
to review and administer the QDRO."
Spencer Olsen
Senior QDRO Writer
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