A final rule from the Department of Labor clarifies certain timing issues related to domestic relations orders.For a Limited Time receive a
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Get Your Report Now!The final rule, which went into effect on August 9, 2010, specifies that a domestic relations order that otherwise meets ERISA’s qualified domestic relations orders (QDROs) would not fail to be treated as a QDRO solely because of when it is issued or because it is issued after, or revises, another domestic relations order.
“Qualifying and administering domestic relations orders sometimes can be a difficult process,” said Phyllis C. Borzi, assistant secretary of labor for the Employee Benefits Security Administration. “This rule will provide more clarity and make compliance easier for plan administrators so that plan participants and beneficiaries actually receive their benefits as ordered.”