A Qualified Domestic Relations Order (QDRO) is often a sensitive topic. The proper identification of the plan participant, the plan and the amount to be distributed to an alternate payee must be submitted directly to the courts for approval.
With attorneys involved, it is important to timely review and process the plan administrator’s checklist when approving a QDRO and confirm the amount to be distributed. PACE will also work to provide the necessary withdrawal paperwork once the QDRO is fully approved to distribute the funds to the alternate payee.
- Send QDRO policy to participants or alternate payees
- Obtain and review proposed QDRO
- Assist participant and alternate payee or representative with QDRO
- Notify recordkeeper of approved QDRO and to establish account for alternate payee
- Approve preparation of Form QDRO
- Review and make final determinations on QDRO