August 2, 2013. Your divorce is over so now you can breathe a sigh of relief. Hold that thought! Is it really over? Not where retirement benefits are concerned. If the Court ordered you a portion of your ex-spouse’s retirement, there are few more steps you need to take to ensure that you see the benefits awarded to you.
Step 1: If you have been awarded retirement benefits from your former spouse, your attorney must prepare a QDRO (Qualified Domestic Relations Order). This is an order signed by a judge stating you are to receive a portion of the retirement benefits. This order is separate from your divorce decree. Dividing retirement plans is a complicated area of law. You will want to make sure your attorney is an experienced family law attorney.
Step 2: The QDRO must be served on the plan administrator. If the plan administrator does not know what the judge ordered, they cannot give you the benefits awarded to you. Many people skip this step and don’t realize until many years down the road that this wasn’t done. Problems can arise if a new plan administrator has taken over the retirement benefits.
Step 3: Update the plan administrator with your mailing address. They will send you important notices. You need to make sure they know how to contact you.
Step 4: If you are awarded a pension benefits, you will need to contact the plan administrator and fill out an application to receive the benefits when you retire. It is your responsibility to contact them.
Retirement benefits are an absolute necessity when you retire. Make sure you have an experienced attorney working for you to ensure the process goes smoothly. Communicate with the plan administrator to ensure you receive the benefits awarded to you.