Save time with our cheat sheets, fact sheets, checklists & books!

February 17, 2009

Alternate Payee

Print

Definition

Any spouse, former spouse, child or other dependent of a plan participant who is recognized by a domestic relations order (DRO) as having a right to receive all, or a portion of, the participant’s benefits payable under a plan.

Referring Cite

IRC §414(p)(8); ERISA §206(d)(3)(K)

Additional Helpful Information

A spouse or former spouse can rollover amounts received as an alternate payee A non-spouse alternate payee cannot rollover amounts received under a DRO

More

Keep Learning

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Salary Deferral Contribution

Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages  contributed to his/ her employer sponsored plan  rather than

Be among the first to know when

IRA Rules
Change