February 17, 2009
Any spouse, former spouse, child or other dependent of a plan participant who is recognized by a domestic relations order (DRO) as having a right to receive all, or a portion of, the participant’s benefits payable under a plan.
IRC §414(p)(8); ERISA §206(d)(3)(K)
A spouse or former spouse can rollover amounts received as an alternate payee A non-spouse alternate payee cannot rollover amounts received under a DRO
Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches
Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit
Who is an active participant? Active participant status affects an individual’s eligibility to take a deduction for a contribution to a traditional IRA on his/her
Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the
