Senior Specialist 401k Recordkeeping T Bank N.A.
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Greenline Wealth Management
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Great Lakes Pension Associates, Inc.
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Retirement Solutions Specialists
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Defined Contribution Account Manager Nova 401(k) Associates
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Pollard & Associates
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Fringe Benefit Group
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New York City District Council of Carpenters Benefit Funds
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Retirement Planners and Administrators (RPA)
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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Delay in Providing QDRO to Plan Causes Ex-Spouse to Lose Survivor Benefits Awarded Under Divorce Decree
Leonard, Street and Deinard Apr. 30, 2013 "The divorce decree provided that Patricia, [Gary's] former spouse [of almost 30 years at their divorce in 1993], would be ... named as the survivor beneficiary if Gary elected a pension with a survivor benefit.... Gary remarried ... [and] made a pension benefit election, choosing a joint and 50% survivor annuity in favor of Shelly, his new wife.... [In 2005, Patricia served an order on the plan.] Gary then died [later in 2005] ... The [Minnesota Supreme Court] concluded that Shelly's right to the survivor benefit vested when Gary retired and elected a survivor benefit in her favor. Because Patricia did not provide the domestic relations order to the plan until after Gary had elected his form of retirement benefit, it was too late for Patricia to claim her share of Gary's pension, at least from the portion otherwise payable to Shelly (which after Gary's death, was the only benefit being paid)." |
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