The QDRO process typically takes 4-8 months but can take less time if the attorneys provide the correct documents and if the plan administrator promptly reviews any drafts.   When contacting Atlantic QDRO Solutions, you can expect the process to play out as follows:

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1.  The parties must provide their personal information.  In order to complete a QDRO properly, it is necessary to provide, among other things, the addresses, Social Security numbers and the name(s) of the plan in question. 

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2.  We also request the Divorce Order/Marital Property Settlement Agreement and a recent copy of a statement from the plan in question (i.e. a 401(k) Quarterly Statement/Pension Abstract).  If any questions arise regarding the division of assets, we will contact both attorneys  for clarity.  We only draft QDROs according to the terms of the divorce and do not advocate on behalf of either party.

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3.  If possible under the rules of the plan, we will send a draft to the HR Department of the Participant's employer (plan administrator) for pre-approval before it is entered into Court.  The plan administrator is the only person who can sign off on an Order to make sure that it complies with the rules of the retirement plan in question.  In the case of plans that do not allow pre-approval,  the signed, court-approved copy must be sent directly to the plan administrator of the company or government agency. 

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If pre-approval is available, the plan administrator will review the document and either request changes be made to QDRO in order for it to comply with the plan or will send a letter stating that the order qualifies under the plan.

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In instances when pre-approval is not available and the Order is first taken to Court by the parties, and when the QDRO is not in compliance with the rules of the plan, a new, amended Order must be entered in the Court and must also be sent to the plan administrator.  This scenario shows the value of plans that offer pre-approval.

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4.  If pre-approval is available under the plan and the plan is pre-approved, we will send the Order to both attorneys for their signatures.  If pre-approval is not available, the Order will still be sent to both parties.  Once signed, the attorneys must enter the Order in the appropriate Court.

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5.  Once approved by the Court, a certified copy of the Order must be obtained and sent to the plan for final processing.  Again, if pre-approval is not available under the plan, the certified copy must be sent to the plan for the first review.  If the plan administrator does not approve the Order, he or she will notify the attorneys regarding the provisions which do not comply with the plan rules.  Once these changes are made, the amended Order must again be filed with the court and the new, certified copy must be sent to the plan administrator.

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