N.J. Admin. Code § 17:6-9.3

Current through Register Vol. 56, No. 23, December 2, 2024

Section 17:6-9.3 - Required findings for QDRO

(a) An order will not be determined by the Plan Administrator to be a QDRO unless the Plan Administrator finds that:

1. The order does not require the Retirement Plan to provide any type or form of benefit or any option not otherwise provided under that Plan;

2. The order does not require the Retirement Plan to provide an increased benefit;

3. The order does not require the payment of benefits to an alternate payee that are required to be paid to another alternate payee under another order that the Plan Administrator (or a state court) previously determined to be a QDRO; and

4. The order clearly specifies:

i. The name and the last known mailing address (if any) of the participant, and the name and the mailing address of each alternate payee;

ii. The amount or percentage, or the manner in which the amount or percentage is to be determined, of the participant's account to be paid (or payable) to each alternate payee; and

iii. The form of payment, and the number of payments or period to which the order applies.

(b) The Plan Administrator may assume that the alternate payee named by the court order is a proper payee and need not inquire into whether the person named is a spouse or former spouse of the participant.

N.J. Admin. Code § 17:6-9.3