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Questions and Answers
What is a QDRO?
What is a QDRO?
- A document that allows for transfer of assets to a beneficiary at the employee's retirement date
- A document that allows for transfer of assets to a beneficiary at a future date (correct)
- A document that allows for transfer of assets to a beneficiary only if the employee passes away.
- A document that allows for immediate distribution of assets to a beneficiary.
What happens to the account when a QDRO is established?
What happens to the account when a QDRO is established?
- The account is frozen until the employee's retirement date
- The account is closed and the funds are distributed to the beneficiary.
- The account is transferred to a QDRO account for each beneficiary registered exactly as the original account. (correct)
- The account is transferred to a new beneficiary account.
When does the required minimum distribution for the alternate payee need to begin?
When does the required minimum distribution for the alternate payee need to begin?
- Only after the employee has retired
- Within 5 years of the establishment of the QDRO.
- At the discretion of the alternate payee
- By the employee's required beginning date (correct)
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Study Notes
- A QDRO allows for transfer of assets to a beneficiary at a future date.
- The account is transferred to a QDRO account for each beneficiary registered exactly as the original account.
- A QDRO is not a reason for distribution.
- RMD to alternate payee must begin by employee's required beginning date.
- RMD may be delayed up to 18 months during QDRO determination period.
- Required minimum distribution for alternate payee determined separately.
- Amount of benefit based on employee's life expectancy.
- Benefit determined under uniform distribution period or joint life expectancy.
- Joint life expectancy used if former spouse is more than 10 years younger than employee.
- QDRO divides individual account into separate accounts for employee and alternate payee.
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