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- A court order that recognizes or creates a spouses or a former spouses right to a portion of a members retirement annuity. Commonly referred to as QDRO. This individual cannot receive his or her share of the members retirement annuity until the member retires, withdraws the contributions, or dies. A divorce decree that assigns this portion to an ex-spouse is not necessarily a valid QDRO. Direct payment by the Retirement Systems is not possible unless the court enters an order that the Retirement Systems determines is acceptable under its guidelines pursuant to S.C. Code Ann. 9-18-10 (supp. 2000).
South Carolina Retirement Systems - Cite This Source - This Definition
- 401(k) Savings Plan and 457 Savings Plan, Defined contribution plan, Direct Rollover, IRC Section 401(a), Pre-Tax, Qualified Plan, Rollover, Roth 401(k) Savings Plan, Tax deferred