Arizona Family Law Lawyer & Attorney : NRG - Nirenstein Ruotolo Group

In a little noticed change, the US Department of Labor issued a "field assistance bulletin" in May, 2003, that permits employers and administrators of ERISA-regulated defined contribution retirement plans (such as 401(k) plans) to charge QDRO processing expenses. The Wall Street Journal recently reported that one large plan administrator (Fidelity Investments) now charges for QDROs for 40 of its 200 plans for which Fidelity processes QDRO documents. The decision to charge is made by each individual employer.

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For tax-qualified retirement plans, the rules regarding tax-free transfers of pension benefits in connection with divorce are well settled. However, a fair amount of uncertainty remains regarding the taxation of transfers of retirement benefits accumulated during a marriage where the pension plan is a supplemental executive retirement plan (SERP) or other nonqualified deferred compensation arrangement.

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The division of a charitable remainder unitrust pursuant to a divorced
couple's property settlement agreement is entitled to nonrecognition, the IRS has announced in a recent private letter ruling (PLR 200502037 ; IRS, 9/30/04, released 1/14/05).

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