Equal Access To The Law - Pensions Library - Low Cost Mistake-Free Legal Document Preparation

What Do We Provide?

We Provide Two Services That No Other QDRO Service Provides

QDROs are not impartial documents. Our ERISA experts draft QDROs (and QDRO equivalent orders for City, County, State and Gov't employer plans that pro-actively and aggressively protect our client's portion of the retirement marital assets from loss.

First, at no additional charge, we prepare a Court Order for Entry of the QDRO to govern the parties and ensure that they take (or refrain from taking) certain action which might result in the loss of benefits, particularly from depletion via loans, distributions, or improper elections causing the loss of benefits in death or upon remarriage. In addition, the order clarifies that the spouse's full (properly calculated) benefits, and earnings thereon, remain the property of the spouse regardless of the employer's administrative policies. It also obligates the participant spouse (and/or their estate) to pay benefits directly to the spouse when an employer's protocol results in benefits reverting to the participant (usually in death or upon remarriage).

Second, we provide the submission of draft and final QDROs to the plan administrators for processing and transferring benefits. We can act as liaison between the plan administrator and you, our client, which results in much quicker processing. As you may know, most employers offer Sample QDROs which they will quickly approve and administer, but we NEVER use an employer's Sample QDRO without modifying it considerably. Sample QDROs protect only the employer and frequently off-load liability. Samples typically contain only the minimum 11 provisions while our QDROs contain no less than 27 provisions for the preservation and protection of your client's benefits, not including the 15 additional protective provisions included in our Court Order for Entry of the QDRO.

Using a Sample QDRO can result in malpractice for practitioners. Even simple 401(k) Sample QDROs commonly provide that the spouse will receive only 50% of the vested benefits (which are often forfeited if either party dies and/or remarries). Our 401(k) QDROs provide that the spouse (beneficiary or estate) will receive 50% of the vested and non_vested benefits plus earnings regardless of whether either party dies or remarries. In addition, we define participant loans as assets of the account and prescribe that the portion of benefits awarded are based on all benefits credited before loans depleted those assets.

For more on Sample QDROs>>>

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