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QDRO Earning Calculation


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On one of the statements (3/31/2013) that I still have, I found this information. Can I use this to calculate my ex's portion using the 5 years return shown? The calculation should be from Nov 2009 to Jun 2014, but the statement is dated 3/31/2013.

Also, I attached my excel calculation, do I correctly calculate it?

Thanks all for all feedbacks.

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This is a more realistic estimate than your spouse proposed, even though it may still overstate the account as of June 2014.

The starting (November 2009) balances were probably in different proportions to each other than in the 2013 statement.  For example, the EuroPacific fund grew much less than the others, so it probably started with a bigger percentage of the total $35k than 26.52%.  That would reduce the November 2009 amounts in the other funds, which in turn would bring the June 2014 balance estimate down ... maybe not a lot, but some.

In any case, if the employer cannot provide copies of the account statements (and the Plan Sponsor is supposed to hang on to them or be able to get them), then this would be a good counter offer.

Good luck.

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Thanks GMK. I finally got a hold of the HR director and she told me that they do not keep any records of any employee's account statements :(. I'll present this to my ex's accountant as a counter offer. Thank you.

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On 1/13/2017 at 6:26 PM, JohnH said:

Thanks GMK. I finally got a hold of the HR director and she told me that they do not keep any records of any employee's account statements :(. I'll present this to my ex's accountant as a counter offer. Thank you.

 

I find this a little disingenuous as an answer. The may not actually have account statements, but employer's are required to keep annual reports at least 7 years (and likely longer). Those annual reports will have all your transaction information summarized.

William C. Presson, ERPA, QPA, QKA
bill.presson@gmail.com
C 205.994.4070

 

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Thanks for the reply. Unfortunately, she stated that she didn't have any records whatsoever and referred me to John Hancock. And last time I called John Hancock, they did not have any statement records older than 2 years. I will try again contacting them.

 

On other subject, I don't trust my ex's QDRO preparer and worried if she planned something sneaky to get all my money. Does anyone here know someone who could review the QDRO she prepared? I apprciate it. Thanks.

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It is the plan administrator's duty to review the (Q)DRO and make sure it complies with all the stipulations that makes the DRO qualified.  Only the plan administrator can qualify the order.

The PA should make no opinions whether the benefit given to the alternate payee is fair other than to confirm the benefit is allowed under the plan.

It is up to you and your lawyer to review the terms of the DRO and negotiate for what you deem fair.

QKA, QPA, CPC, ERPA

Two wrongs don't make a right, but three rights make a left.

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Find a lawyer who has experience with QDRO's. Since you are inexperienced in QDRO's, that's probably your only defense against something sneaky.

Keep in mind that if you and your ex agree to the wording of the DRO, the judge will most likely sign it, regardless of what was agreed to in the divorce decree.  You, however, can get your lawyer to object to terms that go beyond what was agreed to in the divorce decree.

QDRO's can become messy business, and you have every right to defend against your ex's lawyer's efforts to overstate what your ex should get.

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Press your plan administrator.  They should have plan-level reports somewhere.  That report should include a participant listing of accounts.  They can pull your records from that.

Maybe press John Hancock more, too.  Just because they don't have immediate access to statements older than 2 years doesn't mean they can't get that information for you.  I mean, the data just doesn't get wiped away.  Ask to talk to a supervisor, and then a manager and then the manager's superior if you do not get satisfaction.

To the group:  who is responsible for calculating earnings in these cases?  The plan administrator?  The participant?  I would think that it is the Plan Administrator, as they are approving the amount to be moved with the record keeper.

QKA, QPA, CPC, ERPA

Two wrongs don't make a right, but three rights make a left.

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3 minutes ago, BG5150 said:

Press your plan administrator.  They should have plan-level reports somewhere.  That report should include a participant listing of accounts.  They can pull your records from that.

Maybe press John Hancock more, too.  Just because they don't have immediate access to statements older than 2 years doesn't mean they can't get that information for you.  I mean, the data just doesn't get wiped away.  Ask to talk to a supervisor, and then a manager and then the manager's superior if you do not get satisfaction.

To the group:  who is responsible for calculating earnings in these cases?  The plan administrator?  The participant?  I would think that it is the Plan Administrator, as they are approving the amount to be moved with the record keeper.

No question about it, it is the PA's responsibility.  And they have to have the records, they are required to by law.  If they don't, their service providers do.  If the service providers don't... 

Can the PA even execute what is in the QDRO if it has no records? I just don't see how.

 

 

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2 hours ago, RatherBeGolfing said:

No question about it, it is the PA's responsibility.  And they have to have the records, they are required to by law.  If they don't, their service providers do.  If the service providers don't... 

Can the PA even execute what is in the QDRO if it has no records? I just don't see how.

They are required by law to have the records, but in my experience they rarely do and even more rarely to they understand that they are supposed to. If you can get them to understand that requirement, they can press the record keeper or TPA to get them the information.

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19 minutes ago, K2retire said:

They are required by law to have the records, but in my experience they rarely do and even more rarely to they understand that they are supposed to. If you can get them to understand that requirement, they can press the record keeper or TPA to get them the information.

I agree.  My point was more along the lines that the employer can't throw their hands up and say "sorry we don't have it".  If they don't have the records, they have to get the records from a service provider, they don't have another option.

 

 

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