(1) The board will accept and implement QDROs in the Deferred Compensation (457) Plan sponsored by the State of Montana.
(2) Upon request, MPERA will provide to the public a checklist of required and optional provisions for QDROs.
(3) Information concerning a participant's account will only be released subject to the terms of ARM 2.43.1405.
(4) Upon receipt of a certified copy of a stay from the issuing court or the Montana Supreme Court, MPERA and the board will suspend further consideration or implementation of a Domestic Relations Order (DRO). Unless otherwise directed by court order, MPERA will not distribute the participant's 457 account pending resolution of the stay. MPERA will take further action only on receipt of a certified copy of an order directing such action. If the stay is lifted, MPERA will proceed with consideration, approval, and implementation procedures.
(5) A restraining order may be used to temporarily stop or prohibit payment to a participant. The order must contain the same information identifying the participant and alternate payee as required for a QDRO. If a DRO is not received before the order expires, payments will resume and any retained payments will be made to the participant.
(6) The board will not charge a fee for approving or implementing a QDRO. However, the board may charge a reasonable fee if a participant, an alternate payee, or any of their attorneys make excessive demands of MPERA staff to provide assistance in drafting a DRO which can be qualified.
(7) Any fees required by a third party administrator or record keeper for segregated accounts will be charged against the participant's account unless the QDRO states the fee should be deducted from amounts paid to the alternate payee.
(8) The alternate payee must promptly inform MPERA of any change of name or address prior to payment of their share of the participant's account.