Liability or exposure to liability, is not limited to QDROs.  In fact, more often than not liability issues arise from improper settlement agreement language due to:

• Lack of understanding a particular retirement plan's division options.

• Mis-identifying retirement plans (i.e., referring to pensions as “accounts”) or not properly identifying the plan(s) at all.

• Vague, ambiguous, or insufficient property settlement agreement language.

• Using incorrect terminology  – what means one thing to the attorneys and/or the court can mean something entirely different to the plan administrator, often to the detriment to the spouse receiving benefits.

• Awarding “50% of the Marital Portion” when plans may not calculate a marital portion

• Mis-use of coverture fractions – applied to an accrued pension benefit to exclude a premarital portion OR applied to the retirement benefit at retirement affording increases to the spouse’s share.

• Assuming employee contributions into a pension plan equates to value.

 

While we always welcome, and do not charge for, brief consultations regarding the general provisions of retirement plans, when you need assistance in understanding the specific division options of a retirement plan and preparing property settlement agreement language, we offer hourly consulting services.