Okla. Admin. Code § 590:30-1-4 - Contents of qualified domestic relations order
For a qualified domestic relations order (QDRO) to be accepted and binding on the System the order must meet the following requirements:
(1) The order must
clearly specify the following:
(A) the name
and last-known mailing address (if any) of the member and the name and mailing
address of the alternate payee covered by the order and Social Security number
of each,
(B) the dollar amount or
exact percentage of the member's benefits to be paid to the alternate
payee,
(C) the number of payments
or period to which such order applies,
(D) the characterization of the benefit as to
marital property rights or child support, and whether the benefit ceases upon
the death or remarriage of the alternate payee,
(E) each plan to which such order
applies,
(F) the date of marriage
and the date of commencement of divorce proceedings giving rise to the QDRO for
division of marital property,
(G)
if the order is for child support, the name of each child covered by the order,
each child's date of birth and the Social Security Number of each,
(H) if the order is for child support, the
exact amount (if any) awarded in continuing child support for each child and
the exact amount (if any) awarded for arrearages, and
(I) any conditions that will cause the QDRO
to terminate.
(2) The
order meets the requirements of this section only if such order:
(A) does not require the System to provide
any type or form of benefit, or any option not otherwise provided under the
state law as related to the Retirement System,
(B) does not require the System to provide
increased benefits,
(C) does not
require the payment of benefits to an alternate payee which are required to be
paid to another alternate payee pursuant to another order previously determined
to be a qualified domestic relations order by the System, and
(D) does not require payment of benefits to
an alternate payee prior to the actual retirement date of the related member or
prior to the date the member elects to receive a lump sum distribution of his
or her retirement account upon withdrawal from the System or Plan.
(3) The order must provide an
exact dollar amount or percentage of total benefit. The order may not provide
for a percentage of the benefit accrued on a given date, unless the exact
dollar amount is also provided. The order may not provide a formula which
requires the System to calculate the amount payable to an alternate
payee.
(4) If the Order awards a
dollar amount, subsequent benefit adjustment will not change the amount of
payment to an alternate payee unless the order specifically provides for the
apportionment of future cost of living increases. If the order awards a
percentage of the total benefit, the payment to the alternate payee may
increase or decrease due to subsequent benefit adjustments, unless the order
directs otherwise.
(5) Upon the
effective date of the Medicare Gap Benefit option as provided in Chapter 10,
Subchapter 19, of these rules, the order must contain a provision requiring
that the award will only be made if the Pre-Medicare and/or Post Medicare
Benefit amounts of the member are sufficient to make the required payment to
the alternate payee and result in a payment amount to the member of at least
One Hundred Dollars ($100.00) per month.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.