Qualified Domestic Relations Orders Sample Clauses

Qualified Domestic Relations Orders. Section 3.12.9 provides that the Employer may elect to permit distributions to an alternate payee pursuant to the terms of a qualified domestic relations order even if the Participant continues to be employed. (Select one)
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Qualified Domestic Relations Orders. (Check Box 1 OR Box 2.)
Qualified Domestic Relations Orders. (a) In general. All rights and benefits, including elections, provided to a Participant in this Plan shall be subject to the rights afforded to any alternate payee under a Qualified Domestic Relations Order. The Plan Administrator is authorized to and shall establish written procedures to effectuate the requirements for administering Qualified Domestic Relations Orders.
Qualified Domestic Relations Orders. Notwithstanding any other provision herein, Custodian may, at the direction of the Employer or the TPA for the Plan, authorize an immediate distribution to any Alternate Payee named under a “qualified domestic relations order” as defined in Section 414(p) of the Code.
Qualified Domestic Relations Orders. Section 3.11.6 provides that the Employer may elect to permit distributions to an Alternate Payee pursuant to the terms of a Qualified Domestic Relations Order even if the Participant continues to be employed. ☐ a. Distributions to an Alternate Payee are not permitted while the Participant continues to be employed before the earliest possible retirement age pursuant to Code section 414(p). ☐ b. Distributions to an Alternate Payee are permitted while the Participant continues to be employed on or after the date a Domestic Relations Order is determined to be a Qualified Domestic Relations Order by the Plan Administrator.
Qualified Domestic Relations Orders. If the Participant Account is subject to Title I of ERISA, a domestic relations order (“Order”) shall specifically state all of the following in order to be deemed a Qualified Domestic Relations Order (“QDRO”): • the name and last known mailing address of the Participant and each of the Alternate Payee(s) covered by the QDRO; • the dollar amount or percentage of the Participant’s benefit to be paid to each Alternate Payee, or the manner in which the amount or percentage will be determined. • the number of payments or period for which the Order applies; • the specific plan (by name) to which the Order applies. The Order shall not be deemed a QDRO if it requires the Plan to provide: • a type or form of benefit or an option not already provided for in the Plan; • increased benefits or benefits in excess of the Participant’s vested rights; • payment of a benefit earlier than allowed by the Participant Account’s earliest retirement provisions; or • payment of benefits to an Alternate Payee which are required to be paid to another Alternate Payee under another QDRO. Promptly upon receipt of an Order which may or may not be qualified, the Employer shall notify the Participant and any Alternate Payee(s) named in the Order of such receipt, and include a copy of this Paragraph. The Employer or Plan Provider shall then make a determination as to the qualified status of the Order and may forward the Order to the Plan’s legal counsel for an opinion as to the qualified status and the Participant and any Alternate Payee(s) shall be promptly notified in writing of the determination. If the qualified status of the Order is in question, there will be a delay in any payout to any payee including the Participant until the status is resolved. In such event, the Employer shall direct the Plan Provider to segregate the amount that would have been payable to the Alternate Payee(s) if the Order had been deemed a QDRO. If the Order is not a QDRO, or the status is not resolved within eighteen (18) months from the date the first payment would have been made under the Order, the Employer shall direct the Plan Provider to pay the segregated amounts plus interest to the person(s) who would have been entitled to the benefits had there been no Order. If a determination as to the qualified status of the Order is made after the eighteen (18) month period described above, the Order shall only be applied on a prospective basis. If the Order is determined to be a QDRO, the Employer shall direc...
Qualified Domestic Relations Orders. Section 3.10.8 provides that the Employer may elect to permit distributions to an Alternate Payee pursuant to the terms of a Qualified Domestic Relations Order even if the Participant continues to be employed.
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Qualified Domestic Relations Orders. The Plan shall NOT accept qualified domestic relations orders as provided in Section 15.02 of the Plan.
Qualified Domestic Relations Orders. Effective as of the date established pursuant to Section 3.1, all QDROs pertaining to accounts of MVT Employees under the MI Retirement Program shall be transferred to the MVT Retirement Plan pursuant to Section 3.2 and shall be the sole responsibility of the MVT Group.
Qualified Domestic Relations Orders. If a Qualified Domestic Relations Order requires the distribution of all or a part of a Participant’s benefits under the Plan to an alternate payee, the creation, recognition or assignment of the alternate payee’s right to the benefits shall not be considered an assignment or alienation of benefits under Section 13.5 or the provisions of ERISA. A Qualified Domestic Relations Order is any domestic relations order, judgment, decree, or order which creates or recognizes the existence of an alternate payees right to, or assigns an alternate payee’s right to receive all or a portion of the benefits payable to Participant from the Plan and which:
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