MODEL QUALIFIED DOMESTIC RELATIONS ORDER (QDRO) by kpc16389

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									          MODEL QUALIFIED DOMESTIC RELATIONS ORDER (QDRO)

                      For Division Of Benefits Under the Stanford University
                                  Staff Retirement Annuity Plan



Instructions For Participant And Spouse

               This QDRO form is intended to effect the prompt and convenient disposition of
benefits from the Stanford University Staff Retirement Annuity Plan (the “Plan”) in divorce cases.
If this form is used without significant modification, the rights it grants generally will be observed
by the Plan. If this form is modified in important respects, or if an entirely different form is used,
the Plan will have to determine whether the order qualifies as a legitimate QDRO. This may entail
delays of up to eighteen months and further court action may be necessary if defects in the order
have to be rectified. This model QDRO relies on the separate interest approach. Other approaches
may be appropriate.

               This form should be incorporated as an exhibit in the court order which effects a
dissolution of marriage or property settlement. As far as the Plan is concerned, it need not be
“joined” in the divorce action as a party in order for the QDRO to be valid.

               Please note that the Plan provides for a mandatory cashout of vested accrued benefits
that do not exceed $5,000. Accordingly, if the present value of the alternate payee’s benefit is
$5,000 or less, it will be paid in the form of an immediate lump sum. Also note that the maximum
percentage payable to the alternate payee may be less than 100 percent of the vested benefit if the
alternate payee is younger than the participant.

               Attorneys for participants or their spouses who have questions about the use of this
form or other related matters may contact ____________________ at (              )_______-________
for further information about the division of Plan benefits in connection with divorces.




Model QDRO for SRAP                                                                     Stanford Benefits
Name and Address of Law Firm Proposing Order

_________________________________________

_________________________________________

_________________________________________

Telephone: _______________________________

Attorneys for ______________________________


                      ___________ COURT OF THE STATE OF ________________

                      FOR THE COUNTY OF ________________________________



_______________________ , Petitioner               )   Case No. ______________ ,
                                                   )
vs.
                                                   )   QUALIFIED DOMESTIC RELATIONS
_______________________ , Respondent               )   ORDER
                                                   )
                                                   )
                                                   )
                                                   )
                                                   )
                                                   )
                                                   )
                                                   )
                                                   )


               WHEREAS, this DOMESTIC RELATIONS ORDER is intended to be a
Qualified Domestic Relations Order (“QDRO”) and to meet the requirements of Section 414(p)
of the Internal Revenue Code of 1986 (as amended) and Section 206(d) of the Employee
Retirement Income Security Act of 1974 (as amended) (“ERISA”) and the regulations
thereunder; and

               WHEREAS, this QDRO provides for the division and disposition of all or part of
the benefits due to ________________________ (the “Participant”) under the Stanford
University Staff Retirement Annuity Plan (the “Plan”) and grants

Model QDRO for SRAP                                                             Stanford Benefits
_________________________________________ (the “Alternate Payee”) rights in such
benefits on the terms set forth in this QDRO;

               WHEREAS, this QDRO has been issued pursuant to State of
________________________’s domestic relations law to enforce marital property rights of the
Alternate Payee who is the [former] spouse of the Participant;

               WHEREAS, this QDRO is a model form provided by the Plan and the Plan has
represented that orders based on its model form generally will be honored by the Plan as long as
the model form is used without significant modification;

               THEREFORE, GOOD CAUSE HAVING BEEN SHOWN, IT IS HEREBY
ORDERED THAT:

1. Amount to Be Paid to Alternate Payee

   [NOTE: The following are only examples of ways to calculate the division of benefits. The
   Plan does not endorse any particular method over another.]

      (a) The Participant’s vested accrued benefit under the Plan (calculated as a monthly
       benefit commencing on the first day of the month on or immediately following the
       Participant’s 65th birthday) accrued between the date the Participant began participating
       in the Plan, or, if later, the date the Participant and Alternate Payee were married
       (___/___/___), and (___/___/___). The resulting amount, multiplied by 50 percent, shall
       be the Alternate Payee’s interest in the Plan.

      (a) The Participant’s vested accrued benefit under the Plan (calculated as a monthly
       benefit commencing on the first day of the month on or immediately following the
       Participant’s 65th birthday) shall be multiplied by a fraction, the numerator of which is
       the number of months during the period beginning with the date the Participant began
       participating in the Plan, or, if later, the date the Participant and Alternate Payee were
       married (___/___/___), and ending with the date (___/___/___), and the denominator of
       which is the total number of months the Participant participated in the Plan. The resulting
       amount, multiplied by 50 percent, shall be the Alternate Payee’s interest in the Plan.




Model QDRO for SRAP                                                                    Stanford Benefits
   (b) The Alternate Payee’s interest in the Plan (as determined pursuant to paragraph (a)
       above) shall be applied to provide an accrued benefit for the Alternate Payee under the
       Plan which shall be paid to the Alternate Payee under any distribution option elected by
       the Alternate Payee (which is then available under the Plan) and which shall commence
       at the Participant’s death, attainment of early retirement eligibility, attainment of normal
       retirement eligibility, or termination of employment with the Plan’s sponsor and its
       affiliates, whichever occurs first.

   (c) The Participant’s accrued benefit under the Plan shall be reduced actuarially by the
       equivalent of the amount required to be paid to the Alternate Payee determined pursuant
       to this Section. To the extent that any prior QDRO has awarded amounts to another
       person which this QDRO awards to the Alternate Payee, the duplicate amount awarded
       hereunder shall not be payable. Actuarial calculations made pursuant to this QDRO shall
       be performed by or on behalf of the Plan Administrator in accordance with the actuarial
       assumptions and methods used for similar calculations under the Plan. Actuarial
       calculations performed pursuant to the foregoing rules shall be final and binding on the
       Participant and the Alternate Payee.

2. Addresses

   The name, current mailing address, and telephone number of the Participant is:




   (     ) _________________________________________

   The name, current mailing address, and telephone number of the Alternate Payee is:




   (     ) _________________________________________




Model QDRO for SRAP                                                                   Stanford Benefits
   The Alternate Payee shall keep the Plan Administrator informed of his or her current address
   and telephone number. Notice of change of address or telephone number shall be made in
   writing to the Plan Administrator, addressed as follows:

                       Stanford University Staff Retirement Annuity Plan

                                        Plan Administrator

   (or to such other address as the Plan Administrator may specify in a written notice to the
   Alternate Payee). If a distribution pursuant to this QDRO (or notice of the availability of
   such a distribution) is mailed to the Alternate Payee’s last known address, address correction
   requested, but is returned to the Plan with no forwarding address and is not claimed by the
   Alternate Payee within six months of the date the letter is returned to the Plan, the
   distribution shall be permanently forfeited by the Alternate Payee.

3. Death

   (a) If the Alternate Payee dies before distributions commence hereunder, the amount payable
       under this QDRO shall be forfeited and shall not revert back to the Participant. If the
       Alternate Payee dies after distributions commence hereunder, the continuation of benefits
       shall be governed solely by the form of distribution elected by the Alternate Payee. For
       example, if the Alternate Payee properly elects a life annuity, benefits would cease with
       the death of the Alternate Payee. Post-death payments otherwise payable are also subject
       to forfeiture under Section 2 if the person entitled to payment cannot be located and does
       not claim the amount payable hereunder on a timely basis.

   (b) To the extent the Participant is entitled to preretirement death benefit coverage pursuant
       to federal law, the Alternate Payee

       shall be entitled to the beneficial protection of such coverage (and, solely for that
       purpose, shall continue to be treated as the Participant’s “spouse”) with respect to all of
       the Participant’s benefit under the Plan, except any portion thereof (i) accruing after the
       Participant’s subsequent marriage, (ii) transferred to the Alternate Payee under this
       QDRO, or (iii) with respect to which a prior spouse has been awarded “spouse” status
       under a prior QDRO.

       shall not be entitled to any preretirement death benefits upon the death of the Participant.


Model QDRO for SRAP                                                                   Stanford Benefits
   (c) The assignment of benefits to the Alternate Payee hereunder shall not be reduced or
       terminated as a result of the death of the Participant. The percentage or amount of
       benefits not allocated to the Alternate Payee shall belong to Participant and is subject to
       the Participant’s disposition pursuant to Plan provisions, including the designation of a
       beneficiary other than the Alternate Payee, [except as provided in paragraph (b) above].

4. Miscellaneous

   (a) In case of conflict between the terms of the QDRO and the terms of the Plan, the terms
       of the Plan shall prevail. Thus, for example, if the Plan is terminated and all benefits are
       distributed, amounts due under this QDRO shall be immediately distributable.

   (b) The Plan Administrator and the Alternate Payee may modify (by written agreement) any
       provision of this QDRO without further court approval so long as the change has no
       adverse effect on the Participant.

   (c) The Plan Administrator may unilaterally modify any term of the QDRO to the extent
       necessary to comply with applicable law.

   (d) The Alternate Payee shall be a “beneficiary” of the Plan for purposes of ERISA.

   (e) All notices to be given or documents to be sent to the Plan Administrator shall be
       addressed in accordance with Section 2 and shall not be deemed given to the Plan unless
       sent certified mail, return receipt requested.

   (f) The Participant and the Alternate Payee shall hold the Plan, its sponsor, the Plan
       Administrator, and fiduciaries harmless from any liabilities which arise from following
       this QDRO, including all reasonable attorneys’ fees which may be incurred in connection
       with any claims which are asserted because the Plan honors this QDRO.

   (g) The Plan, its sponsor, the Plan Administrator, and fiduciaries shall not be responsible for
       any attorneys’ fees incurred by the Participant or the Alternate Payee in connection with
       obtaining or enforcing this QDRO.




Model QDRO for SRAP                                                                   Stanford Benefits
DATED: ______________ , 20____      _______________________________
                                                JUDGE




SUBMITTED BY:

_________________________________________



By: _____________________________________

Attorneys for ______________________________




Model QDRO for SRAP                                                   Stanford Benefits
          Separate Information Form of the order—DO NOT FILE WITH COURT




Information Form:

Plan Name:__________________________________________

Participant:__________________________________________

Social Security Number: _______________________________

Date of Birth: ________________________________________




Alternate Payee: ______________________________________

Social Security Number: ________________________________

Date of Birth: ________________________________________




Model QDRO for SRAP                                                 Stanford Benefits

								
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