SUGGESTED MODEL QDRO FOR KPERS/KP&F
(TYPE "B" -- Plan Participant Vested, Long-Time Marriage, Splits
Future Benefits Payments)
IN THE DISTRICT COURT OF ______________ COUNTY, KANSAS
| In the Matter of the Marriage of |
) |
|
) |
| _________________ |
) |
Case No. |
| and |
) |
Div. No. |
|
) |
| _________________ |
) |
|
) |
| ____________________________________ |
) |
| Proceeding under K.S.A. Chapter 60 |
QUALIFIED DOMESTIC RELATIONS ORDER
NOW ON THIS _______[date]________
, the above-entitled matter came on upon the
application of the parties for a Qualified Domestic Relations
Order under the Internal Revenue
Code and the Kansas Public Employees Retirement System Act. Pursuant
to the authority
reserved in the Decree of Divorce previously herein entered,
the Court, having examined and
considered the pleadings filed herein, and being well and fully
advised in the premises, finds the
following facts and issues the following orders:
1. Plan Participant
/ Alternate Payee. The Court finds (a) that ____________________
is
a "Plan Participant" or "Participant" of the Kansas Public Employees
Retirement System [or the
Kansas Police and Firemen's Retirement System / or the Retirement
System for Judges] ("the
Plan"); (b) that pursuant to K.S.A. 74-4923(b) [or K.S.A. 20-2618
for Judges], the Plan
Participant's accrued benefits under the plan are subject to
this Qualified Domestic Relations
Order; (c) that ___________________ is an "Alternate Payee" under
this order; and (d) that
____________________ shall be the Date of Division, from and
after which the Alternate
Payee's award under this order shall accrue interest in the same
manner and at the same rate as
interest is credited to the Plan Participant's Accumulated Contributions
Account ("Account").
2. Marital Period
. The Plan Participant and the Alternate Payee were married on
________________. [Specify either the date of marriage, or the date of participation in the Plan,
whichever is later.] They were divorced [or separated] on _________________________.
The total number of marital months to be used in determining the
Alternate Payee's share of the
Plan Participant's accrued benefits under the Plan is _______ months. [Marital months cannot
exceed months of participation in the Plan.]
3. Plan Participant's
Name and Mailing Address: The name, last known mailing
address
and Social Security Number of the Plan Participant is as follows:
_______________________________
_______________________________
_______________________________
Social Security Number __________________
4. Alternate Payee's Name
and Mailing Address: The name, last known mailing address
and Social Security Number of the Alternate Payee is as follows:
_______________________________
_______________________________
_______________________________
Social Security Number __________________
5. Obligation of the Parties.
It is the obligation of the parties to keep the Plan apprised of
their respective current mailing addresses and / or current instructions
as to automatic deposit of
funds. The parties are directed to timely submit to the administrator
of the Plan all documents
that are required to implement this order. The Plan Administrator
is the Kansas Public
Employees Retirement System, 611 S. Kansas, Suite 100, Topeka,
KS 66603-3803.
6. Determination of
Amount Awarded to Alternate Payee. The Court determines
that the
amount of the award to the Alternate Payee from the Participant's
eventual retirement benefits
under the Plan cannot be expressed at this time, either as a
dollar amount or a specific percentage
of the Participant's monthly retirement benefit, because neither
the Plan nor the Court can
determine how long the Participant will continue to accrue retirement
credits as a Participant in
the Plan before beginning to receive benefits. The Court may,
therefore, if necessary, determine
the amount of the award to the Alternate Payee using the "reserve
jurisdiction" method at the
time such information becomes available.
7. Alternate Payee
to be Designated as Beneficiary. The Alternate Payee shall
be
designated as at least a co-primary beneficiary, with no more
than one other primary beneficiary
allowed to be named by the Participant, to receive at least one-half
of the Participant's refundable
Account and group term life insurance proceeds, should Participant
die before retirement.
8. Alternate Payee
to be Named as Survivor / Joint and Survivor Annuity.
At retirement,
the Participant shall select a joint and survivor annuity benefit,
naming the Alternate Payee as
survivor, with not less than one-half of the Participant's benefit
to be paid to the Alternate Payee
upon the Participant's death, should the Alternate Payee survive
the Participant ("joint and one-
half" annuity option).
9. Alternate Payee
to Receive a Portion of Pre-Retirement Withdrawals. In
the event the
Participant's Account, or any portion thereof, becomes payable
to the Participant as a result of
the Participant's termination of employment and withdrawal of
contributions from the Plan, the
Plan shall pay to the Alternate Payee the "Marital Portion" of
the Participant's Account equal to
fifty percent (50%) of the Account balance accrued during the
marriage of the Participant and the
Alternate Payee, with interest thereon to the Alternate Payee
from the Date of Division until the
event of distribution.
10. Method of Calculation
of Alternate Payee's Award. Upon the Participant's retirement,
the Court will exercise its reserve jurisdiction authority at
that time, to order the Plan to pay, to
the Alternate Payee, a Marital Portion of the Participant's monthly
benefit. Such Marital Portion
shall be in such amount or amounts as may be determined by the
Court through the application of
the following formula:
| |
|
50% |
x |
MM
TM |
x |
MB |
= |
Marital Portion |
| where: |
50% "MM" "TM"
"MB" |
is the Alternate Payee's percentage share,
is the number of months the parties were married (but not
more than "TM"),
is the number of months of the Participant's participation
in the Plan, and
is the monthly Plan benefit payable to the Participant upon
retirement, as reduced
by election of the joint and one-half survivor option described
in paragraph 8
above. |
11. Accrual of Interest
on Alternate Payee's Marital Portion. From and after the
Date of
Division, the Alternate Payee's marital portion of the Account
shall accrue interest at the same
rate and in the same manner as interest is credited to the Participant's
portion of the Account
until distribution shall occur.
12. Accrual of Interest
on Participant's Account. All contributions to the Participant's
Account made after the Date of Division shall accrue solely to
the Participant's portion of the
Account, together with interest thereon, until the event of distribution.
13. Limitations on
Order. Nothing in this Order shall require, and this Order
shall not be
construed to require the Plan to: (a) provide any type or form
of benefit or any option not
otherwise provided under the Plan; or (b) provide increased benefits
(determined on the basis of
actuarial value) to the Alternate Payee; or (c) pay benefits
to the Alternate Payee which are
required to be paid to another Alternate Payee under another
Order previously determined to be a
Qualified Domestic Relations Order.
14. Retention of Jurisdiction.
The Court shall retain jurisdiction over the allocation and
transfer to the Alternate Payee of the marital portion of Participant's
benefits or Account balance
as the case may be, and to issue further Orders as needed to
enforce this Order.
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____________________________
District Judge |
NAME OF LAW FIRM
Address and Telephone Number |
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| BY: |
_______________________________
Attorneys for Alternate Payee |
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NAME OF LAW FIRM
Address and Telephone Number |
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| BY: |
_______________________________
Attorneys for Plan Participant |
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(Must be Certified by Clerk of Court) |
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