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Old 12-19-2017, 12:33 PM
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Fuzzy Fuzzy is offline
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Default Please comment on this QDRO award

In 2001, a participant and alternate payee divorced with a decree which awarded the AP 50% of the P's benefit accrued as of 1/1/2000. The Plan apparently calculated that 50% amount of the accrued benefit (the benefit payable as if P had terminated employment on 1/1/2000) as $1,363.15. (This calculation appears accurate given average earnings and length of service as of 1/1/2000.) The Plan defines a participant's Accrued Benefit as a 10C&C benefit at age 65. The Plan sent a qualification letter stating that the AP was entitled to $1,363.15 payable as a 10C&C benefit payable for the AP's life beginning at the AP's age 65, 6.5 years after the P's age 65.

This doesn't look like an award of the P's benefit since it shifts the life basis to the AP and delays payment for 6.5 years, without adjustment for either change. What do you all think?

Does it make any difference that the Plan has a "continue to accrue" post NRD (age 65) provision without actuarial increase?
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