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Standard QDRO Review Service
- $400 per QDRO
As a valued client of QDRO Consultants Co.,
we will perform the following QDRO administrative services
in every case:
- Send QDRO procedures to all parties
- Contact recordkeeper to request "hold"
on participant's accounts*
- Distribute model QDRO language, if
necessary
- Review terms of QDRO in accordance
with law and specific plan procedures
- Prepare and distribute approval or
denial letter to all parties
- Copy plan administrator on all correspondence
- Handle all phone calls from parties
and lawyers
- Review modified or amended QDROs
- Distribute QDRO "Interpretation
Letter" upon approval
- Prepare QDRO Express Administration
Forms for use by recordkeeper & actuary*
- Includes all
misc. expenses (postage, long distance, etc.)
* Provided these services have been specifically
requested by client.
Additional QDRO Services
QDRO Express Administration
Forms - $75 per QDRO
Upon approval of each QDRO,
QDRO Consultants Co. can generate a QDRO-Express
Administration Form for use by 401(k) recordkeeper
and actuary. This will help increase the accuracy of
the alternate payee's assigned share of the benefits and
reduce the time it takes for the record keeper and actuary
to calculate the benefits.
QDRO Compliance Manual - $4,000
This comprehensive QDRO
Compliance Manual, tailored to your company's
specific plans and procedures, can significantly reduce
your company's potential liability exposure by documenting
all of your QDRO administrative procedures, updating model
QDROs and instructions, and addressing all default procedures
including segregation of plan benefits, limitations on
retroactive assignments, and the obligations of the plan
administrator, alternate payee and participant.
Alternate Payee Database - $4,000
Per Year
QDRO Consultants Co.
can establish and maintain a computerized Alternate
Payee Database that provides a state-of-the-art tracking
system for every alternate payee on the system. The database
contains all pertinent information for the parties including
the substantive provisions contained in the QDRO. The
database also automatically monitors the six and eighteen
month "freeze" periods that are implemented
upon receipt of a draft or certified QDRO. We also monitor
the 30-day ERISA appeal period upon approval of the QDRO.
Along with receiving periodic database reports in the
mail, you also have the ability to instantly check on
the status of every alternate payee on the system via
our secure, web-based reporting application.
We will also "scan" all of your QDRO files
into the Alternate Payee Database for ease of future administration.
Then, at any point in time, you can review your old QDRO
files on-line through our secure, web-based application.
Administration of California
Joinders - $150
Under California statutes,
Joinders are a required component of the divorce process
when it comes to the equitable distribution of the participant's
retirement benefits. All plan administrators are required
to administer Joinders as part of the QDRO process. This
includes a Summons (Joinder), Pleading on Joinder, Request
for Joinder of Employee Benefit Plan and Order, Notice
of Acknowledgement of Receipt and Notice of Appearance
and Response. Why not let QDRO Consultants Co.
administer this added burden for you as part of our QDRO
administration?
QMCSO Administration
- $300
QDRO Consultants
Co. can now process your "QMCSOs" and "National
Medical Child Support Notices". As authors of the Qualified
Medical Child Support Order Handbook (an Aspen Law Publication),
we understand the complexities associated with these ERISA-mandated
legal requirements. All U.S. companies that provide health
care coverage to their employees must comply with the provisions
of a Qualified Medical Child Support Order ("QMCSO")
issued by a state court regarding the provision of health
care coverage for the children of their employees/noncustodial
parents.
Our one-time fee for QMCSO
processing is $300, guaranteed through approval. As with QDROs,
we will handle the entire review process as well as all correspondence
with the parties, attorneys and state agencies.
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