Can a plan administrator charge a fee to review a domestic relations order?

Can a plan administrator charge a fee to review a domestic relations order? Read this response by Texas Pension & Profit Sharing Plan Specialist Richard Johnston Jr. to understand more about QDROs and domestic relations orders.

By Richard Johnston Jr.
August 08, 2012
 
TX FAQ/Pensions, Retirement Plans, QDROs

Yes. The Department of Labor has determined that a plan administrator may "assess reasonable expenses attributable to a QDRO determination" for a defined contribution plan and those expenses may be assessed against the participant's account (see Field Assistance Bulletin 2003-3). The term "reasonable expenses" is not defined and we are seeing plan fees anywhere from $300 to $1,200 per Order.


Richard Johnston Jr. is a Pension & Profit Sharing Plan Specialist at QDRO Services, L.L.C. that will work with you and your family law practitioner with the division of retirement benefits and a QDRO solution. He can be reached at 1-877-531-8333.

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August 08, 2012
Categories:  FAQs

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