What is a Notice of Adverse Interest? A Notice of Adverse Interest (“NAI”) attempts to stop a plan participant from touching retirement funds that a former spouse (“alternate payee”) may be entitled to by providing adequate notice to a plan of a divorce or pending divorce. In many cases, a NAI sent to a plan […]
What are joinder pleadings? California Joinder Pleadings (“Joinders”) which join a retirement plan in a divorce case are an attempt to stop a plan participant from touching retirement funds that a former spouse (“alternate payee”) may be entitled to by providing notice to a plan of a divorce or pending divorce. In many cases, Joinders […]
The answer is YES! One of the purposes of a QDRO is to allow for the nonmember spouse (alternate payee) to pay taxes on any benefits paid to the alternate payee instead of a participant. If the alternate payee is not rolling over funds to an IRA or other defined contribution plan, then the alternate […]
This article highlights key issues regarding ensuring a former spouse of a federal employee is guaranteed survivor benefits. If the employee predeceases the former spouse, in almost all states the former spouse’s marital or community property interest should include any survivor benefits payable by the Federal Employees Retirement System or the Civil Service Retirement System […]
The short answer is “it depends.” A domestic partner dissolution may divide a state public plan with a domestic relations order. However, a private employer plan which includes any union plans and any federal plans (e.g., federal employees or military) will not accept or implement a QDRO. Bottom line: For domestic partnerships, direct payments to […]
