Sentences with phrase «alternate payees under»

An exception is also met if the payments are made to an alternate payee under a qualified domestic relations (divorce) order.

Not exact matches

An alternate payee received the distribution under a qualified domestic relations order (QDRO).

While the employer assumes the risk of having sufficient funds available to pay employees their promised benefit under defined benefit plans, defined contribution plans shift this risk to plan participants — and, thus, to alternate payees.

The distribution was made to an alternate beneficiary or payee under a qualified domestic order.

This determination («qualification») gives an alternate payee the right to receive some or all of the benefits payable under a plan, including survivor benefits.

A Qualified Domestic Relations Order (QDRO) is a judgment decree or order made pursuant to a state domestic relations law that creates or recognizes the existence of an alternate payee's right to, or assigns to an alternate payee the right to, receive all or a portion of the benefits payable with respect to a participant under a qualified retirement plan and that complies with certain special requirements.

Nevertheless, it is important for both you and your spouse to know your options under the plan subject to division, so that the alternate payee spouse can be privy to the benefits that he / she is entitled to upon the plan's division.