Qualified Domestic Relations Order. ...............................................................1.37 Regulation..........................................................................................1.38
Qualified Domestic Relations Order. A QDRO is a signed Domestic Relations Order issued by a State Court which creates, recognizes or assigns to an alternate payee(s) the right to receive all or part of a Participant's Plan benefit and which meets the requirements of Code Section 414(p). An alternate payee is a Spouse, former Spouse, child, or other dependent who is treated as a beneficiary under the Plan as a result of the QDRO.
Qualified Domestic Relations Order. In the case of a Custodial Account that is part of an "employee pension benefit plan" under ERISA, the Custodian shall make distributions in accordance with the terms of a "qualified domestic relations order" as defined in Section 206(d) of ERISA, provided that the Employer (or its duly appointed plan administrator) shall be responsible for determining the qualified status of the order and distribution shall be made by the Custodian only upon receipt of written direction from the Employer (or its duly appointed plan administrator) that the order is a "qualified domestic relations order" for purposes of ERISA.
Qualified Domestic Relations Order. (QDRO). A QDRO is a domestic relations order that creates or recognizes the existence of an Alternate Payee’s right to receive, or assigns to an Alternate Payee the right to receive, all or a portion of the benefits payable with respect to a Participant under the Plan. (See Code §414(p).) The QDRO must contain certain information and meet other requirements described in this Section 11.5.
Qualified Domestic Relations Order. In addition to payments made under Article VII on account of a Participant’s termination of employment, payments may be made to an Alternate Payee prior to, coincident with, or after Participant’s termination of employment if made pursuant to a Qualified Domestic Relations Order. In any event, however, payments to an Alternate Payee pursuant to a Qualified Domestic Relations Order may not commence prior to the earlier of (a) the date on which the Participant, corresponding to the Qualified Domestic Relations Order is entitled to a distribution under the Plan; or (b) the later of (1) the date on which such Participant attains age 50 or (2) the earliest date on which such Participant could begin receiving benefits under the Plan if the Participant had separated from service. In addition, this Plan specifically authorizes distributions to an Alternate Payee under a Qualified Domestic Relations Order regardless of whether the Participant has attained the earliest retirement age (as defined above and in Section 414(p) of the Code) only if: (A) the order specifies distribution at the earlier date or permits an agreement between the Plan and the Alternate Payee, and (B) the Alternate Payee consents to a distribution prior to the Participant’s earliest retirement age if the present vale of the Alternate Payee benefits under the Plan exceeds $5,000. The value of the Participant’s vested Account balance for purposes of clause (B) of the preceding sentence shall be determined without regard to that portion of his Account balance that is attributable to rollover contributions (and earnings allocable thereto) within the meaning of Sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the Code. Nothing in this Section 11.12 shall give a Participant a right to receive distribution at a time otherwise not permitted under the Plan, nor shall it permit the Alternate Payee to receive a form of payment not permitted under the Plan. The Administrator shall establish reasonable procedures to determine the qualified status off domestic relations orders and to administer distributions under such qualified orders, including, in its sole discretion, the establishment of segregated accounts for Alternate Payees.
Qualified Domestic Relations Order. A qualified domestic relations order approved by the Administrator in accordance with Section 10.12.
Qualified Domestic Relations Order. As permitted by the Code and applicable regulations and subject to any applicable Withdrawal Charges, we may permit withdrawals to an alternate payee pursuant to a QDRO described in IRC Section 414(p), as determined by the administrator for each plan.
Qualified Domestic Relations Order. When a life policy is cancelled because of a court ordered settlement and is rewritten by another life policy on the same life, full commissions will be credited. When the assets of an annuity are required to be split because of a Domestic Relations Order or Qualified Domestic Relations Order, no commissions will be paid or credited. Product Exchanges. The company sometimes sponsors special exchange programs (known as a "company-sponsored exchange") designed to encourage clients to replace an older product with a newer one, typically because the newer product has features the older one lacks that are considered advantageous to the client. The company often provides some incentive to the client to make the sponsored exchange. Special commission provision may also apply. If they do, these special commission provisions will supersede the rules published here.
Qualified Domestic Relations Order. A court order in a marital dissolution or similar proceeding that meets the requirements of Code section 414(p).
Qualified Domestic Relations Order. In the event that a Qualified Domestic Relations Order mandates the transfer of any Option that could have been exercised immediately prior to the issuance of such order, such Option shall pass to the Domestic Relations Successor, and shall be exercisable by such person or persons in accordance with the terms of the applicable Option Agreement.
