With respect to a defined contribution plan, an alternate payee is entitled to commence his/her share of the benefits as soon as administratively feasible following the date the QDRO is approved by the Plan Administrator and upon completion by the alternate payee of the necessary distribution forms and other paperwork as may be required by the Plan Administrator.

Under a defined benefit pension plan, an alternate payee must wait until the participant attains the “earliest retirement age” as defined under Section 414(p)(4) of the Internal Revenue Code, before he/she can commence his/her share of the benefits and upon completion of the necessary paperwork. Also, depending on the age of the participant when the alternate payee elects to commence his/her share of the benefits, the alternate payee ‘s benefits may be further reduced by any applicable early commencement reduction factors.