Guest Kehau Posted December 5, 2001 Posted December 5, 2001 If a Divorce Decree orders that a participant's balance in his Defined-Benefit Pension Plan be held as security for his child suppport obligation, upon a qualifying event can the participant withdraw the balance of the account? My diivorce decree ordered that my ex-husband's balance in his retirement plan be held as security for his child support obligation for as long as there was a child support order (our son is now 11 years old). He was laid off of work in November of 2000 and under the requriements of the Plan, on December 1, 2001 he became eligible to withdraw his funds from his account balance. When I reminded the Plan Administrator of the provision in my Divorce Decree, he said he would check on it and get back to me about it. When he did back to me, he said the entire account balance had been paid out to my ex-husband. What are my recourses?
QDROphile Posted December 6, 2001 Posted December 6, 2001 You need a competent lawyer to advise you, and that is probably not the lawyer who represented you in the divorce. The plan may have done something wrong, but that depends depends on many facts. You may also have a claim against the lawyer who represented you in the divorce, again depending on many facts. You won't be able to get a good answer from this message board.
david rigby Posted December 6, 2001 Posted December 6, 2001 .....and if that lawyer does not know the meaning and significance of a Qualified Domestic Relations Order, keep looking. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Guest Kehau Posted December 6, 2001 Posted December 6, 2001 thanks for all your help, I've called around here in Washington and hope to find someone that can help me.
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