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Dividing Benefits Earned During Marriage
BenefitsLink Message Boards Link to more items from this source
Oct. 28, 2019

"A couple married on September 7, 2007 and divorced on July 16, 2019. The plan is a cash balance plan.. The Judgment of Divorce awards the Alternate payee 50% of the Participant's vested account balance under the plan earned during the marraige. I drafted the QDRO accordingly. The plan administrator denied preapproval of the QDRO, stating that a single valuation date is required. To be fair, the QDRO quidelines state as much. However, since this a common J of D provision, I have used the above language successfully with other plan administrators. I have researched alternative formulas like: Value on date of divorce x months a participant while married/total months a participant x 50% = award to Alternate Payee. Does anyone have a better idea?"

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