Erisa Plan

The ERISA applies to all private pension plans, which covers a wide berth of employer-sponsored pension and retirement plans. In fact, while there are a few odd exceptions, the only pension plans that ERISA does not encompass are military pensions, federal government plans, and in some states, state government plans. However, the act itself does not provide automatic coverage for spouses in the event they divorce. Instead, what it does is create a pathway that an ex-spouse can use to claim the right to the asset once the divorce is official.

This pathway is called a QDRO, and it is a highly intricate and complex legal document. QDRO stands for qualified domestic relations order and is a court order that must be written by a qualified lawyer and then signed by a judge in order to make it valid. The QDRO outlines the division of a pension or retirement plan and stipulates the rights of an ex-spouse to the asset. Matrimonial lawyers often outsource the QDRO because of its high complexity and the potential for malpractice if it is prepared incorrectly. Given the high monetary value of most pensions or retirement plans, there is no room for error with a QDRO.

Northstar QDRO assists many matrimonial lawyers with their QDRO needs. We regularly draw up QDROs designed to support and serve the needs of clients in full alliance with state and federal law. If you need assistance with a QDRO and want to avoid a malpractice suit, contact Northstar QDRO today.