Current Issues In The QDRO World - Part IV

• Lack of Information

Lack of information is one of the single biggest causes of delay in the preparation of QDROs.  I understand that it is not always easy or possible (financially or otherwise) to get discovery or the retirement benefit information.  But it can be vital! 

In some cases, we can piece together certain information and back into the answer, but many times we can’t and it brings the preparation to a stop. 

Example:  We receive a Divorce Decree that reads as follows:  Wife is awarded 50% of the Husband’s retirement benefits as a result of his employment with Lockhead Martin as of the date the Final Decree is signed by the court, together with any interest, dividends, gains or losses since that date.      

Seems pretty clear, right?  The problem is that Lockhead Martin Corporation at one point had (12) defined contribution plans and that does not count the defined benefit plans.  Without a plan statement or someway to identify which plan(s) we are dealing with, we cannot proceed.

This is why it is so important to get an expert, whether its QDRO Services or someone else, involved early in the process.  Use your experts and give them the tools to succeed.