Employee Benefits Update (August 2010)
DOL Issues Final Rules Relating to Qualified Domestic Relations Orders
On June 10, 2010, the Department of Labor’s Employee Benefits Security Administration issued final rules on the time and order of domestic relations orders under the Employee Retirement Income Security Act of 1974 (ERISA).
The final rules are effective August 9, 2010. The final rules provide guidance to retirement plan administrators, service providers, participants and alternate payees on the requirements of qualified domestic relations orders (QDROs) under ERISA.