A «qualified domestic relations order» (QDRO or QUADRO) is a court order assigning an «alternate payee» (usually a former spouse) the right to receive all or a portion
of retirement plan benefits payable to an employee.
The opportunity to withdraw
retirement plan benefits without penalty appears particularly attractive with today's relatively flat tax rates, which may make it possible to withdraw large amounts from a plan during a particular year at ordinary income tax rates without increasing the tax rates.
We do not maintain nonqualified deferred compensation plans, supplemental
executive retirement plan benefits, cash severance programs, or change - in - control benefits for our executive officers.
As it will be clear later, when it comes to pension plans, retirement plan costs do not always translate
into retirement plan benefits, and the Chester Charter School is offering a pretty good retirement plan.
The spouse who is still working and not receiving benefits from the plan, for example, may argue that the ability to
reach retirement plan benefits without penalty should be considered as a basis for reduced support to the non-participant spouse.
Other options include life income trusts and gifts of life insurance and
retirement plan benefits.
However, the exemption doesn't apply to
retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury.
With this process we gain a thorough understanding of your company's needs and work to identify a solution that best meets the challenges of
your retirement plan benefit program.
(If you don't have
a retirement plan benefit, you still have options, such as an IRA.)
The exemption, however, does not apply to
retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury.