Michigan Laws 38.1703 – Right of alternate payee to share of benefit payable to participant; payment of benefit pursuant to EDRO
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Terms Used In Michigan Laws 38.1703
- Alternate payee: means a spouse of a participant under a judgment of separate maintenance, or a former spouse, child, or dependent of a participant, who is named in an eligible domestic relations order. See Michigan Laws 38.1702
- Benefit: means an annuity, a pension, a retirement allowance, or an optional benefit accrued or accruing to a participant under a retirement system or a postretirement subsidy payable to a participant under a retirement system. See Michigan Laws 38.1702
- EDRO: means a domestic relations order that is considered an eligible domestic relations order under section 11 or that meets all of the following requirements:
(i) The domestic relations order states the names and last known addresses of the participant and alternate payee. See Michigan Laws 38.1702Filed with the retirement system: means that the retirement system has determined that the domestic relations order submitted for filing is acceptable as an EDRO. See Michigan Laws 38.1702 Participant: means a member, deferred member, vested former member, deceased former member, or retirant under the retirement system. See Michigan Laws 38.1702 Retirement system: means a public employee retirement system created and established by this state or any political subdivision of this state. See Michigan Laws 38.1702
Subject to the requirements of this act, an alternate payee is entitled to an actual interest in a share of a benefit that is or will become payable to a participant, if so provided in an EDRO filed with the retirement system. The retirement system shall administer the payment of a benefit pursuant to the EDRO and this section.