by Administrator | Aug 15, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
In order to properly manage the financial implications of a QDRO you need to involve a financial divorce expert in the process. Ideally you would involve a financial divorce architect as these professionals understand how the “divorce chess board” works, even if you...
by Administrator | Aug 15, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
Some people automatically jump to the conclusion they need a QDRO (Qualified Domestic Relations Order) when a retirement plan exists in a marital estate. Yet, is a QDRO needed for every retirement plan in a divorce? How do you make the decision whether to move forward...
by Administrator | Aug 10, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
By way of background, a QDRO stands for a Qualified Domestic Relations Order. It is an order in the United States that enables a non-employee spouse to become a participant or receive monies from an employee spouse’s retirement plan. It is usually best to have the...
by Administrator | Aug 6, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
Background and Context Under ERISA Section 205 and IRC Sections 401(a)(11) and 417, retirement plans are required to provide a participant’s spouse a survivor benefit. In other words, if the participant passes away the survivor benefit should apply to the surviving...
by Administrator | Aug 6, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
The benefit received under a defined contribution plan depends on the amount of the participant’s account balance and whether the QDRO has provisions that guard against various events that could occur such as if the market goes down which could erode the remaining...
by Administrator | Aug 6, 2018 | Personal Divorce, Retirement Plans (QDROs) in Divorce
QDROs usually come into play with either a defined benefit plan or a defined contribution plan. Defined benefit plan — A defined benefit plan, by definition, usually provides for lump sum payment to the participant. The plan usually uses an actuarial formula which...
