QDRO Requirements
The following is a list of requirements for a qualified domestic relation order (“QDRO”) as provided under IRC section 414(p).
1. For a domestic relation order to be a qualified order it must clearly specify:
a. The name and last known mailing address (if any) of the participant and the name and mailing address of each alternate payee. Also include the date of birth and social security numbers of each alternate payee for proper identification.
b. The amount or percentage of the participant’s benefits to be paid to the alternate payee or the manner in which the amount or percentage is to be determined.
c. The number of payments or the period to which the order applies.
d. Each plan to which the order applies.
2. A domestic relations order is not a qualified order if:
a. It requires the plan to provide any type or form of benefits, or any option not otherwise provided by the plan.
b. It requires the plan to provide increased benefits (determined on the basis of actuarial value).
c. It requires payment of benefits to an alternate payee, which are already required to be paid to another alternate payee under the previous qualified order.
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