Life Events-Divorce Document

Divorce

There are many issues that need to be considered during the process of getting a divorce. The following checklist may be of help to simplify the necessary steps you need to take in regard to your benefit plans.

Forms:

Additional Information:

Health & Welfare SPD

Pension SPD

Retirement Savings Plan SPD

X-C. Rights of Former Spouse - Domestic Relations Orders

Planning Notes:

Financial planners recommend that persons undergoing a divorce should review and update a number of personal plans and documents. Here is a checklist of some items which you may need to update, revise, or consider:

Benefit Plan Checklist
	The Pension and Retirement Savings Plans are mandated by law to have a procedure by which the two parties to a divorce may determine and allocate the participant's pension benefit. The legal name for the order which must be approved and filed with both the pension plan and the court is Qualified Domestic Relations Order (QDRO, pronounced kwadro).
	The attorney who will draft the QDRO will probably wish to obtain a copy of the summary plan descriptions and the QDRO procedures. Send an email to the Plan Office to request that these documents be mailed to the attorney.
	Since your family status changes as the result of a divorce or legal separation, you need to notify the Plan Office within 60 days after the divorce becomes final or the legal separation becomes effective. The office will notify your ex-spouse of any continuing health coverage options under COBRA. You will have to submit a copy of the final divorce decree to finalize changes to your benefits.
	You will want to review your designation of beneficiary for all three Plans. Your Designations of your spouse as Beneficiary under the Pension and Money Purchase Plans are automatically revoked when a divorce becomes finalized.

External Related Links:
(These are listed for your convenience. The sites and the contents of the sites are not sponsored or endorsed by your benefit plans. Use them at your own risk.)

DivorceNet - Information on the subjects of divorce, child support, custody, visitation, and spousal support, and a directory of U.S. divorce lawyers.
Divorce Support - Divorce links, books, and a directory of professionals.
Split-Up - Materials to help people who are dealing with divorce, including help with life issues, legal issues, and finances.