Qualified Domestic Relations Orders. The provisions of Section 12.2 notwithstanding, all or part of a Participant’s Vested benefits arising under this Plan may be transferred to one or more Alternate Payees on the basis of a “qualified domestic relations order,” as that term is defined in Code §414(p), provided that: (1) such order was issued by a court having jurisdiction over the Administrator; or (2) such order was entered by any other court and the Administrator, in its sole discretion, determines that the order is a Qualified Domestic Relations Order.
(a) When appropriate, the Administrator will provide a Participant involved in marital litigation with information regarding the nature and value of the Participant’s benefits and will assist the Participant and the court in interpreting that information.
(b) The Administrator will establish a written procedure to determine the qualified status of domestic relations orders and to administer distributions under such qualified orders. Such procedure will provide that during the period in which a determination is being made with respect to the qualified status of an order received by the Administrator and for 30 days thereafter:
(i) the Administrator will direct the Trustee to segregate and separately account for any sums payable to the Participant that the order requires to be paid to the Alternate Payee; and
(ii) the Participant will be prohibited from electing to receive any distribution that would compromise the rights granted to the Alternate Payee by the order, without the Alternate Payee’s written consent.
(c) Neither the Alternate Payee nor any person claiming through the Alternate Payee will have the right to transfer benefits to another Alternate Payee.
(i) In all other respects, the benefits transferred pursuant to a Qualified Domestic Relations Order will be administered in accordance with the provisions of this Plan, and the Alternate Payee will have all the rights and duties of a fully Vested Participant who had incurred a Termination of Employment.
(ii) With respect to benefits transferred to an Alternate Payee pursuant to this Section, the Alternate Payee will have all of the rights of a Participant who has incurred a Termination of Employment, to the exclusion of any claim thereto on the part of the Participant.
(d) A subpoena or other instrument of judicial process that:
(i) is directed to the Administrator, its constituent corporations, or its officers or employees,
(ii) appears on its face to be issued in the course of mari...
Qualified Domestic Relations Orders. Section 3.10.8 provides that the Employer may elect to permit distributions to an Alternate Payee pursuant to the terms of a Qualified Domestic Relations Order even if the Participant continues to be employed.
Qualified Domestic Relations Orders. Notwithstanding any other provision herein, Custodian may, at the direction of the Employer or the TPA for the Plan, authorize an immediate distribution to any Alternate Payee named under a “qualified domestic relations order” as defined in Section 414(p) of the Code.
Qualified Domestic Relations Orders. Section 3.11.6 provides that the Employer may elect to permit distributions to an Alternate Payee pursuant to the terms of a Qualified Domestic Relations Order even if the Participant continues to be employed. ☐ a. Distributions to an Alternate Payee are not permitted while the Participant continues to be employed before the earliest possible retirement age pursuant to Code section 414(p). ☐ b. Distributions to an Alternate Payee are permitted while the Participant continues to be employed on or after the date a Domestic Relations Order is determined to be a Qualified Domestic Relations Order by the Plan Administrator.
Qualified Domestic Relations Orders. (a) In general. All rights and benefits, including elections, provided to a Participant in this Plan shall be subject to the rights afforded to any alternate payee under a Qualified Domestic Relations Order. The Plan Administrator is authorized to and shall establish written procedures to effectuate the requirements for administering Qualified Domestic Relations Orders.
Qualified Domestic Relations Orders. The Plan shall NOT accept qualified domestic relations orders as provided in Section 15.02 of the Plan.
Qualified Domestic Relations Orders. (Check Box 1 OR Box 2.)
1. [X] The Plan SHALL accept qualified domestic relations orders as provided in Section 13.02 of the Plan.
2. [ ] The Plan SHALL NOT accept qualified domestic relations orders as provided in Section 13.02 of the Plan.
Qualified Domestic Relations Orders. Section 3.12.9 provides that the Employer may elect to permit distributions to an alternate payee pursuant to the terms of a qualified domestic relations order even if the Participant continues to be employed. (Select one)
a. Distributions to an alternate payee are not permitted while the Participant continues to be employed.
b. Distributions to an alternate payee are permitted while the Participant continues to be employed.
Qualified Domestic Relations Orders. The Plan shall accept qualified domestic relations orders as provided in Section 15.02 of the Plan.
Qualified Domestic Relations Orders. Effective as of the date established pursuant to Section 3.1, all QDROs pertaining to accounts of MVT Employees under the MI Retirement Program shall be transferred to the MVT Retirement Plan pursuant to Section 3.2 and shall be the sole responsibility of the MVT Group.
