Spidee Posted February 22, 2016 Posted February 22, 2016 Public retirement system governed by state law and not ERISA. It is a defined benefit plan. Married many years, participant and ex-wife divorce, divorce decree states ex-wife gets half. QDRO never filed with the plan. Participant retires and names a beneficary other than ex-wife. Benefit option selected pays retiree a monthly retirement for life. Upon his death, beneficary receives a monthly benefit for life that is one/half of his monthly benefit. Ex-wife is now wanting for file a late QDRO. Will the participant be legally required to split the benefit with the ex-wife or did she wait too long to file the QDRO?
QDROphile Posted February 22, 2016 Posted February 22, 2016 Depends on the relevant state law. Under an ERISA retirement plan, if the beneficiary was the spouse of the participant at time of retirement, the former spouse cannot be assigned any interest in the survivor annuity.
david rigby Posted February 22, 2016 Posted February 22, 2016 ... and the Plan should not take sides. K2retire 1 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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