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New at QDRO's, what to do


Guest latwz

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Guest latwz

Hi,

I am new at processing QDRO's. We received a signed order which our actuary determined is "qualified" however, the order permits the alternate payee to designate a beneficiary before commencement of benefits which we cannot do.

My question is do I write a letter saying it is qualified but we cannot accept said language, or do I write that it is not qualified because of said language.

Thank you,

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Why not ask your actuary?

That said it seems since your actuary said it was qualified that you would "write a letter saying it is qualified but we cannot accept said language" and go on to day the reason it cannot be accepted is "the order permits the alternate payee to designate a beneficiary before commencement of benefits which we cannot do."

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The Plan admin should respond by requesting that the offending provision be removed from the DRO before it will be qualified.

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One hopes that the Plan Administrator (not the TPA) has "QDRO procedures". That might, for example, describe who has the authority to determine whether a DRO is a QDRO, as well as written documentation of what conclusion was reached, and why.

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.

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