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| ERISA and Non Qualified Plans |
PROCEDURES FOR QDRO PREPARATION
1. Upon receipt of a request to prepare a QDRO, the information will be
reviewed to determine whether we have everything necessary to prepare the
proposed QDRO.
2. A letter will be issued to counsel notifying him/her that we have received
his/her request to prepare the proposed draft QDRO. If additional information
is needed, the letter will request additional information.
3. The proposed draft QDRO will be prepared with 3-5 business days (unless
otherwise notified or if additional information is needed).
4. The proposed draft QDRO will be submitted to the plan administrator for
review prior to filing. Some Plans will review draft Orders prior to filing,
while some will not. If the Plan will not review draft Orders, we will forward
the proposed QDRO to counsel for entry. If the Plan will accept draft Orders
for review prior to entry, we will submit the Order(s) for review. The review
process can vary, depending on the company, from 10-60 days. In most cases will
receive a response within 30 days.
5. Once we receive a response from the plan administrator, we will do one of
two things. If the Plan "pre-approves" the draft QDRO, we will forward the
draft QDRO to counsel with instructions. If the Plan rejects the draft QDRO, we
will make the necessary changes requested by the Plan as long as it does not
affect the substance of the Order. Once the changes are complete we will
forward the QDRO to counsel with instructions.
6. If, upon request, we have been asked to handle the administration of the
QDRO; once the parties' signatures have been obtained, send the proposed QDRO
back to us for filing. Once we receive the proposed QDRO signed by the parties,
we will file the proposed QDRO within (3-5) business days. Once filed, it will
request a Court Certified Copy of the QDRO. This can take up to (10) business
days (longer if outside the Houston area). Once we receive the Court Certified
Copy of the QDRO, we will mail it via certified mail within (2) business days.
7. Once the Plan receives the proposed QDRO, the plan administrator will once
again review the QDRO in the same manor as before. Once the plan administrator
makes a determination, the plan administrator will contact the parties
(Participant and Alternate Payee) to inform them of the final determination.
8. If the plan administrator rejects the proposed QDRO, please send a copy of
the rejection letter and a copy of the QDRO that was submitted to the Plan to
us. We will review the letter and QDRO make any necessary changes. (If the
proposed QDRO was submitted to the plan administrator for review prior to
filing, rejection of the QDRO is unlikely; however, if the plan would not
review a draft QDRO, it is likely that the Plan will reject the initial QDRO.)
As you can see, this process does take some time. If your time line does not
allow for these procedures, please let us know. In some cases, these procedures
can be modified. If you have any questions, you are welcome to call us at (713)
880-0305; however, emailing is welcomed. The email address is rjjr@qdrosvc.com.
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