Once the final decree of divorce is entered, and if a retirement account is to be split or transferred to the other spouse, then a special order must be created called a Qualified Domestics Relations Order, or QDRO for short. The QDRO is discussed in more detail at the beginning of the pension section and again later in the program.
It is very important to give the person preparing the QDRO a deadline. Most problems with splitting pensions after divorce occur because the QDRO was either never prepared or not prepared soon enough.
Preparing a QDRO will take time. Our strongest recommendation is that you have an attorney prepare the QDRO for you. It will take time for you to find the attorney and time for the attorney to do the work.
If you are absolutely unable to have an attorney prepare your QDRO and must do your own, you will need to allow enough time to complete the entire process. You must first obtain the QDRO packet from the pension plan administrator, type the QDRO order, submit it to the pension plan administrator for approval, and leave yourself enough time to make any changes that the pension plan administrator might want. We recommend about 90 days to complete the process, but it could take more time depending on your situation.
To obtain a signed QDRO as fast as possible after the divorce, you should start the process before your divorce is final by obtaining the QDRO packet in advance, preparing the QDRO order, and being ready to submit it to the pension plan administrator as soon as the judge signs your Decree of Divorce.