Yes. You need a QDRO if your former spouse is receiving a portion of your TRS benefits or contributions. The TRS plan administrator must accept the order before it is enforceable, along with a court-certified copy of your divorce or dissolution documents. The TRS has specialized staff who will help you if you have any questions about divorce or resolution. You can find out more about the distribution of TRS benefits after divorce. Please see the qualified divorce and resolution order information set for standard forms and more information on federal and state requirements after divorce, changes in beneficiary names, and medical benefits for former spouses. This page lists the books we have at the Franklin County Law Library and provides an example form. The provisions that distribute old-age benefits are complicated. It`s best to get advice from a lawyer and your plan administrator. Yes. QDROs are necessary if benefits are to be distributed in divorce or dissolution. A QDRO is required for each benefit that is divided. For example, if you have a PERS account, an SBS-AP account and a deferred Compensation Plan, you need a QDRO for each account, so in this case you need 3 QDROs.
Each QDRO would authorize the public pension and benefit service to make payments to both the member and the former spouse. You can find out more about the distribution of state pension accounts. Please see the qualified divorce and resolution order information set for standard forms and more information on federal and state requirements after divorce, changes in beneficiary names, and medical benefits for former spouses. For more information, please contact the Divorce/Resolution Unit at 907-465-4460 or firstname.lastname@example.org Normally, you and your ex-spouse write the QDRO as an agreement in which you both sign and the judge signs. However, if the parties do not agree on the terms of the QDRO, the judge makes the final decision and gives the order with or without the agreement of both parties. The judge may order a party to sign the QDRO so that it can be delivered to the plan administrator with the signatures of both parties. Start this process at an early stage, as it can take several weeks before you get all the information. The sooner you receive information from the plan administrator, the sooner you can start working on an agreement with the other party or prepare for your trial version on how age benefits will be distributed. The ideal situation would be for the court to sign the QDRO at the same time as the introduction of the divorce decision.
If the divorce has already taken place, it is important to begin and complete this process as soon as possible. If you do not have a QDRO, you will not receive old-age benefits directly from the plan….