earliest date to receive benefits?

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ntang
Posts: 31
Joined: Fri Mar 02, 2018 12:01 am

earliest date to receive benefits?

Post by ntang » Fri Mar 02, 2018 12:41 am

What is the earliest date on which the alternate payee can begin to receive benefits under a QDRO?

lduffy
Posts: 29
Joined: Thu Mar 01, 2018 10:15 pm

Re: earliest date to receive benefits?

Post by lduffy » Fri Mar 02, 2018 1:25 am

With respect to a defined contribution plan, an alternate payee is entitled to commence alternate payee’s share of the benefits as soon as administratively feasible following the date the QDRO is approved by the Plan Administrator and upon completion by the alternate payee of the necessary distribution forms and other paperwork as may be required by the Plan Administrator.

Under a defined benefit pension plan, an alternate payee must wait until the participant attains the "earliest retirement age" as defined under Section 414(p)(4) of the Internal Revenue Code, before alternate payee can commence alternate payee’s share of the benefits and upon completion of the necessary paperwork. Also, depending on the age of the participant when the alternate payee elects to commence alternate payee’s share of the benefits, the alternate payee 's benefits may be further reduced by any applicable early commencement reduction factors.

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