Dear Counselor: Please note that several Qualified Domestic Relations Orders we submitted recently to various City, County and Government Employers, which protect the Alternate Payee's retirement benefit from loss in the event of the Participant's death, are requiring removal of the protective language unless the Final Judgment (or accompanying marital settlement type document) includes specific language which awards the Alternate Payee with protection of the marital portion of retirement benefits if the spouse dies before they receive their full benefit.
Some States are considering valid our 'Court Order for Entry of the QDRO,' which obligates the Participant to elect the death protection for the spouse, even if it is entered after the Final Judgment. However, other States are only accepting the language in the 'Court Order for Entry of the QDRO' if it is entered prior to, or in tandem with, the Final Judgment. Please call us and provide your fax number to receive another copy of our Sample Marital Settlement Agreement language which protects the Alternate Payee from loss of benefits in death and from losses associated with the participant taking loan(s) and other distributions from their benefit plans. We expect ERISA employers to follow the example of the ERISA-exempt government organizations because of the costs associated with administering death protection for the spouse. For this reason, we recommend that you submit all request for QDROs (or non-ERISA equivalent type Orders) to us at least 10 business days (our turn-around time) before the case is schedule for entry of the Final Judgment. Best Regards, LEGAL DYNAMICS, INC. K.C. Craddock, EBE Toll Free: 800-565-8067 Phone: 407-893-6445 Fax: 407-896-4465 Our Standard Intake and Credit Card Acceptance Form is now accessible via our website @ legaldynamics.com (family law attorneys will need to contact us via phone to obtain the code for the 25% attorney direct QDRO discount). _______________________________________________ Lilypond-user mailing list [EMAIL PROTECTED] http://mail.gnu.org/mailman/listinfo/lilypond-user
