Qualified Domestic Relations Orders. Section 19.01 shall also apply to the creation, assignment or recognition of a right to any benefit payable with respect to a Participant pursuant to a domestic relations order, unless such order is determined to be a Qualified Domestic Relations Order. A Qualified Domestic Relations Order may not require the Plan to provide any form of benefit not allowed under Article XII, may not increase benefits, and may not alter the payment of benefits under an existing Qualified Domestic Relations Order. In the case of any payment before a Participant has separated from Service, a Qualified Domestic Relations Order shall not be treated as providing a benefit not allowed by the Plan solely because the order requires payment of benefits to an Alternate Payee on or after the date on which the Participant attains (or would have attained) the “Earliest Retirement Age” as if the Participant had retired on that date and in any form allowed by the Plan. “Earliest Retirement Age” shall mean the earliest date on which the Participant could begin receiving benefits under the Plan if the Participant separated from Service. When a domestic relations order is received by the Plan, the Plan Administrator shall promptly notify the Participant and any Alternate Payee of the receipt of such order and the Plan’s procedures for determining if the order is a Qualified Domestic Relations Order and, within a reasonable time, the Plan Administrator shall determine if such order meets these requirements. The Plan Administrator shall notify the Participant, the Alternate Payee and any other person specified in the order as being entitled to payment of benefits under the order at the address specified in the order of its determination. An Alternate Payee may designate a representative for receipt of copies of such notices. Unless distributions were being currently made, no distributions of benefits shall occur while this determination is being made by the Plan Administrator. If distributions were occurring prior to receipt by the Plan Administrator of the order, a separate account shall be established to hold any further distributions until a final determination is made by the Plan Administrator. Upon written receipt of a domestic relations order, the Plan Administrator shall review this order, inform the Trustee, and gather such facts as it may deem appropriate. The Plan Administrator may consult with legal counsel for the Plan in such matters. The Plan Administrator shall reach a decision within 18 months following the date on which the first payment would be required to be made under the order whether it is a Qualified Domestic Relations Order. During this period the Plan Administrator shall separately account for the amounts which would have been payable to the Alternate Payee during the period if the order had been determined to be a Qualified Domestic Relations Order. If the order (or modification thereof) is qualified, the segregated amounts shall be paid according to the order. If the order is not qualified, any segregated accounts plus earnings thereon shall be returned to their original account. If the Plan’s Fiduciaries follow these procedures, the Plan and all Fiduciaries shall be relieved of any liability to any Participant or Alternate Payee. If an order is subsequently found to be a Qualified Domestic Relations Order, all payments shall be prospective only.
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Qualified Domestic Relations Orders. Section 19.01 During any period in which the issue of whether a Domestic Relations Order is a Qualified Domestic Relations Order is being determined (by the Administration Committee, by a court of competent jurisdiction, or otherwise), the Administration Committee shall also apply direct the Trustee to segregate in a separate account or in an escrow account the amount that would have been payable to the creation, assignment or recognition of a right to any benefit payable with respect to a Participant pursuant to a domestic relations order, unless Alternate Payee during such order period if the Domestic Relations Order is determined to be a Qualified Domestic Relations Order. A Qualified If within eighteen (18) months the Domestic Relations Order may not require the Plan (or modification thereof) is determined to provide any form of benefit not allowed under Article XII, may not increase benefits, and may not alter the payment of benefits under an existing be a Qualified Domestic Relations Order, the Administration Committee shall direct the Trustee to pay the segregated account (and any earnings or interest thereon) or the balance held in the escrow account, as applicable, to the person or persons entitled thereto. In If within eighteen (18) months it is determined that the case of any payment before a Participant has separated from Service, order is not a Qualified Domestic Relations Order or the issue as to whether such Domestic Relations Order is a Qualified Domestic Relations Order is not resolved, the Administration Committee shall not direct the Trustee to pay the segregated account (and any earnings or interest thereon) or the balance of the escrow account, as applicable, to the person or persons who would have been entitled to such amounts if there had been no Domestic Relations Order. Any determination that a Domestic Relations Order is a Qualified Domestic Relations Order which is made after the close of the eighteen (18) month period shall be treated as providing applied prospectively only. The Administration Committee shall establish reasonable procedures for determining whether a benefit not allowed by Domestic Relations Order is a Qualified Domestic Relations Order and to administer distributions under Qualified Domestic Relations Orders. When the Plan solely because receives a Domestic Relations Order the order requires payment of benefits to an Alternate Payee on or after the date on which the Participant attains (or would have attained) the “Earliest Retirement Age” as if the Participant had retired on that date and in any form allowed by the Plan. “Earliest Retirement Age” shall mean the earliest date on which the Participant could begin receiving benefits under the Plan if the Participant separated from Service. When a domestic relations order is received by the Plan, the Plan Administrator Administration Committee shall promptly notify the appropriate Participant and any other Alternate Payee of the receipt of such order and the Plan’s Administration Committee's procedures for determining if the order is a Qualified Domestic Relations Order and, within a reasonable time, the Plan Administrator shall determine if whether such order meets these requirements. The Plan Administrator shall notify the Participant, the Alternate Payee and any other person specified in the order as being entitled to payment of benefits under the order at the address specified in the order of its determination. An Alternate Payee may designate a representative for receipt of copies of such notices. Unless distributions were being currently made, no distributions of benefits shall occur while this determination is being made by the Plan Administrator. If distributions were occurring prior to receipt by the Plan Administrator of the order, a separate account shall be established to hold any further distributions until a final determination is made by the Plan Administrator. Upon written receipt of a domestic relations order, the Plan Administrator shall review this order, inform the Trustee, and gather such facts as it may deem appropriate. The Plan Administrator may consult with legal counsel for the Plan in such matters. The Plan Administrator shall reach a decision within 18 months following the date on which the first payment would be required to be made under the order whether it is a Qualified Domestic Relations Order. During this period the Plan Administrator The Administration Committee shall separately account for the amounts which would have been payable to the Alternate Payee during the period if the order had been determined to be determine whether a Domestic Relations Order is a Qualified Domestic Relations OrderOrder within a reasonable period after receipt of such order, and shall within a reasonable time after such determination notify the Participant and each Alternate Payee of such determination. If the order (or modification thereof) is qualified-------------------------------------------------------------------------------- Hastings Books, the segregated amounts shall be paid according to the order. If the order is not qualifiedMusic & Video, any segregated accounts plus earnings thereon shall be returned to their original account. If the Plan’s Fiduciaries follow these procedures, the Inc. Employee Stock Ownership Plan and all Fiduciaries shall be relieved of any liability to any Participant or Alternate Payee. If an order is subsequently found to be a Qualified Domestic Relations Order, all payments shall be prospective only.Page 41
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Qualified Domestic Relations Orders. Section 19.01 shall also apply If the Participant Account is subject to the creationTitle I of ERISA, assignment or recognition of a right to any benefit payable with respect to a Participant pursuant to a domestic relations order, unless such order is determined (“Order”) shall specifically state all of the following in order to be a Qualified Domestic Relations Order. A Qualified Domestic Relations Order may not require the Plan to provide any form of benefit not allowed under Article XII, may not increase benefits, and may not alter the payment of benefits under an existing Qualified Domestic Relations Order. In the case of any payment before a Participant has separated from Service, deemed a Qualified Domestic Relations Order (“QDRO”): • the name and last known mailing address of the Participant and each of the Alternate Payee(s) covered by the QDRO; • the dollar amount or percentage of the Participant’s benefit to be paid to each Alternate Payee, or the manner in which the amount or percentage will be determined. • the number of payments or period for which the Order applies; • the specific plan (by name) to which the Order applies. The Order shall not be treated as providing deemed a QDRO if it requires the Plan to provide: • a type or form of benefit or an option not already provided for in the Plan; • increased benefits or benefits in excess of the Participant’s vested rights; • payment of a benefit not earlier than allowed by the Plan solely because the order requires Participant Account’s earliest retirement provisions; or • payment of benefits to an Alternate Payee on which are required to be paid to another Alternate Payee under another QDRO. Promptly upon receipt of an Order which may or after the date on which the Participant attains (or would have attained) the “Earliest Retirement Age” as if the Participant had retired on that date and in any form allowed by the Plan. “Earliest Retirement Age” shall mean the earliest date on which the Participant could begin receiving benefits under the Plan if the Participant separated from Service. When a domestic relations order is received by the Planmay not be qualified, the Plan Administrator Employer shall promptly notify the Participant and any Alternate Payee Payee(s) named in the Order of such receipt, and include a copy of this Paragraph. The Employer or Plan Provider shall then make a determination as to the qualified status of the receipt of such order Order and may forward the Order to the Plan’s procedures for determining if the order is a Qualified Domestic Relations Order and, within a reasonable time, the Plan Administrator shall determine if such order meets these requirements. The Plan Administrator shall notify the Participant, the Alternate Payee and any other person specified in the order as being entitled to payment of benefits under the order at the address specified in the order of its determination. An Alternate Payee may designate a representative for receipt of copies of such notices. Unless distributions were being currently made, no distributions of benefits shall occur while this determination is being made by the Plan Administrator. If distributions were occurring prior to receipt by the Plan Administrator of the order, a separate account shall be established to hold any further distributions until a final determination is made by the Plan Administrator. Upon written receipt of a domestic relations order, the Plan Administrator shall review this order, inform the Trustee, and gather such facts as it may deem appropriate. The Plan Administrator may consult with legal counsel for an opinion as to the qualified status and the Participant and any Alternate Payee(s) shall be promptly notified in writing of the determination. If the qualified status of the Order is in question, there will be a delay in any payout to any payee including the Participant until the status is resolved. In such event, the Employer shall direct the Plan in such matters. The Plan Administrator shall reach a decision within 18 months following Provider to segregate the date on which the first payment would be required to be made under the order whether it is a Qualified Domestic Relations Order. During this period the Plan Administrator shall separately account for the amounts which amount that would have been payable to the Alternate Payee during the period Payee(s) if the order Order had been deemed a QDRO. If the Order is not a QDRO, or the status is not resolved within eighteen (18) months from the date the first payment would have been made under the Order, the Employer shall direct the Plan Provider to pay the segregated amounts plus interest to the person(s) who would have been entitled to the benefits had there been no Order. If a determination as to the qualified status of the Order is made after the eighteen (18) month period described above, the Order shall only be applied on a prospective basis. If the Order is determined to be a Qualified Domestic Relations Order. If the order (or modification thereof) is qualifiedQDRO, the Employer shall direct the Plan Provider who will then instruct the Custodian to pay to the Alternate Payee(s) all the amounts due under the QDRO, including segregated amounts shall be paid according plus interest which may have accrued during a dispute as to the order. If the order is not qualified, any segregated accounts plus earnings thereon shall be returned to their original account. If the PlanOrder’s Fiduciaries follow these procedures, the Plan and all Fiduciaries shall be relieved of any liability to any Participant or Alternate Payee. If an order is subsequently found to be a Qualified Domestic Relations Order, all payments shall be prospective onlyqualification.
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Samples: central.verityinvest.com
Qualified Domestic Relations Orders. Section 19.01 shall also apply to the creation, assignment or recognition of a right to any benefit payable with respect to a Participant pursuant to a domestic relations order, unless such order is determined to be a Qualified Domestic Relations OrderOrder or any domestic relations order entered before January 1, 1986. A Qualified Domestic Relations Order may not require the Plan to provide any form of benefit not allowed under Article XIIXI, may not increase benefits, and may not alter the payment of benefits under an existing Qualified Domestic Relations Order. In the case of any payment under a Qualified Domestic Relations Order before a Participant has separated from Service, a such payment may be made at any time regardless of whether the Participant has attained his earliest retirement age (within the meaning of Section 414(p) of the Code); provided that (a) the Qualified Domestic Relations Order shall not be treated as providing a benefit not allowed by the Plan solely because the order requires payment of benefits to an Alternate Payee on provides for or after the date on which the Participant attains permits distribution at that time and (or would have attainedb) the “Earliest Retirement Age” as if the present value of the alternate payee’s benefit exceeds $5,000, the alternate payee consents to the distribution. Nothing in this Section gives a Participant had retired on that date and in any form allowed by the Plan. “Earliest Retirement Age” shall mean the earliest date on which the Participant could begin receiving benefits a right to receive a distribution at a time not otherwise permitted under the Plan if nor does it permit an alternate payee to receive a form of payment not permitted under the Participant separated from ServicePlan. When a domestic relations order is received by the Plan, the Plan Administrator shall promptly notify the Participant and any Alternate Payee alternate payee of the receipt of such order and the Plan’s procedures for determining if the order is a Qualified Domestic Relations Order and, within a reasonable time, the Plan Administrator shall determine if such order meets these requirements. The Plan Administrator shall notify the Participant, the Alternate Payee alternate payee and any other person specified in the order as being entitled to payment of benefits under the order at the address specified in the order of its determination. An Alternate Payee alternate payee may designate a representative for receipt of copies of such notices. Unless distributions were being currently made, no distributions of benefits shall occur while this determination is being made by the Plan Administrator. If distributions were occurring prior to receipt by the Plan Administrator of the order, a separate account shall be established to hold any further distributions until a final determination is made by the Plan Administrator. Upon written receipt of a domestic relations order, the Plan Administrator shall review this the order, inform the Trustee, and gather such facts as it may deem appropriate. The Plan Administrator may consult with legal counsel for the Plan in such matters. The Plan Administrator shall reach a decision within 18 eighteen (18) months following the date on which the first payment would be required to be made under the order whether it is a Qualified Domestic Relations Order. During this period the Plan Administrator shall separately account for the amounts which would have been payable to the Alternate Payee alternate payee during the period if the order had been determined to be a Qualified Domestic Relations Order. If the order (or modification thereof) is qualified, the segregated amounts shall be paid according to the order. If the order is not qualified, any segregated accounts plus earnings thereon shall be returned to their original account. If the Plan’s Plan Fiduciaries follow these procedures, the Plan and all Fiduciaries shall be relieved of any liability to any Participant or Alternate Payeealternate payee. If an order is subsequently found to be a Qualified Domestic Relations Order, all payments shall be prospective only.
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Samples: Employee Stock Ownership Plan and Trust Agreement (Origin Bancorp, Inc.)
Qualified Domestic Relations Orders. Section 19.01 The Plan Administrator shall also apply adhere to the creationterms of any judgment, assignment decree or recognition order (including approval of a property settlement agreement) which relates to the provision of child support, alimony payments, or marital property rights to a spouse, former spouse, child or other dependent of a Participant and is made pursuant to a state domestic relations law (including a community property law) and which creates or recognizes the existence of an Alternate Payee's right to, or assigns to any benefit an Alternate Payee the right to, receive all or a portion of the benefits payable with respect to a Participant pursuant to a Participant. Any such domestic relations order must clearly specify the name and last known mailing address of the Participant and the name and mailing address of each Alternate Payee covered by the order, unless the amount or percentage of the Participant's benefit to be paid by the Plan to each such Alternate Payee, or the manner in which such amount or percentage is to be determined, the number of payments or period to which such order applies, and each plan to which such order applies. Any such domestic relations order shall not require the Plan to provide any type or form of benefit, or any option not otherwise provided under the Plan, to provide increased benefits, or the payment of benefits to an Alternate Payee which are required to be paid to another Alternate Payee under another order 14535 63 05/01/07 previously determined to be a Qualified Domestic Relations Order. Distributions to an Alternate Payee are permitted on or after the date a Domestic Relations Order is determined to be a Qualified Domestic Relations Order, even if the Participant continues to be employed and has not attained the "earliest possible retirement age" pursuant to section 414(p) of the Code. A Qualified Domestic Relations Order may not require For this purpose, the "earliest possible retirement age" under the Plan to provide any form of benefit not allowed under Article XII, may not increase benefits, and may not alter means the payment of benefits under an existing Qualified Domestic Relations Order. In the case of any payment before a Participant has separated from Service, a Qualified Domestic Relations Order shall not be treated as providing a benefit not allowed by the Plan solely because the order requires payment of benefits to an Alternate Payee on or after earlier of: (a) the date on which the Participant attains is entitled to a distribution under the Plan, or (or would have attainedb) the “Earliest Retirement Age” as if later of the date the Participant had retired on that date and in any form allowed by the Plan. “Earliest Retirement Age” shall mean attains age 50, or the earliest date on which the Participant could begin receiving benefits under the Plan if the Participant separated from Serviceservice. When The payment of benefits to an Alternate Payee before the Participant has separated from service shall be determined as if the Participant had retired, or otherwise terminated employment, on the date on which such payment is to begin under the Qualified Domestic Relations Order, (but taking into account only the benefits actually accrued), and may be paid in any form in which such benefits may be paid under the Plan to the Participant (other than the form of a domestic relations order is received by Joint and Survivor Annuity with respect to the PlanAlternate Payee and his subsequent spouse). To the extent provided in the Qualified Domestic Relations Order, the former spouse of a Participant shall be treated as a surviving spouse of such Participant for purposes of sections 401(a)(11) and 417 of the Code (and any spouse of the Participant shall not be treated as a spouse of the Participant for such purposes) and if married for at least one (1) year to the Participant, the surviving former spouse shall be treated as meeting the requirements of section 417(d) of the Code. The Plan Administrator shall promptly notify the Participant and any each Alternate Payee of the receipt of such a domestic relations order by the Plan and the Plan’s 's procedures for determining if the order is a Qualified Domestic Relations Order and, within qualified status of domestic relations orders. Within a reasonable time, the Plan Administrator shall determine if such order meets these requirements. The Plan Administrator shall notify the Participant, the Alternate Payee and any other person specified in the order as being entitled to payment of benefits under the order at the address specified in the order of its determination. An Alternate Payee may designate a representative for receipt of copies of such notices. Unless distributions were being currently made, no distributions of benefits shall occur while this determination is being made by the Plan Administrator. If distributions were occurring prior to receipt by the Plan Administrator of the order, a separate account shall be established to hold any further distributions until a final determination is made by the Plan Administrator. Upon written period after receipt of a domestic relations order, the Plan Administrator shall review this orderdetermine whether such order is a Qualified Domestic Relations Order and shall notify the Participant and each Alternate Payee of such determination. If the Participant or any affected Alternate Payee disagrees with the determinations of the Plan Administrator, inform the Trusteedisagreeing party shall be treated as a claimant and the claims procedure of Part 3, and gather such facts as it may deem appropriateArticle 9 shall be followed. The Plan Administrator may consult with legal counsel bring an action for a declaratory judgment in a court of competent jurisdiction to determine the Plan proper recipient of the benefits to be paid by the Plan. During any period in such matters. The Plan Administrator shall reach a decision within 18 months following the date on which the first payment would be required to be made under the issue of whether a domestic relations order whether it is a Qualified Domestic Relations Order. During this period Order is being determined (by the Plan Administrator, by a court of competent jurisdiction or otherwise), the Plan Administrator shall separately account for the amounts which would have been payable to the Alternate Payee during the such period if the order had been determined to be a Qualified Domestic Relations Order. If If, within the eighteen (18) month period beginning on the date on which the first payment would be required to be made under the domestic relations order, the order (or modification thereof) is qualified, the segregated amounts shall be paid according to the order. If the order is not qualified, any segregated accounts plus earnings thereon shall be returned to their original account. If the Plan’s Fiduciaries follow these procedures, the Plan and all Fiduciaries shall be relieved of any liability to any Participant or Alternate Payee. If an order is subsequently found determined to be a Qualified Domestic Relations Order, all payments the Plan Administrator shall pay the segregated amounts, including any interest thereon, to the person or persons entitled thereto. If within such eighteen (18) month period it is determined that the order is not a Qualified Domestic Relations Order or the issue as to whether such order is a Qualified Domestic Relations Order is not resolved, then the Plan Administrator shall pay the segregated amounts, including any interest thereon, to the person or persons who would have been entitled to such amounts if there had been no order. Any determination that an order is a Qualified Domestic Relations Order, which is made after the close of the eighteen (18) month period, shall be prospective applied prospectively only.
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