Current through Register Vol. XLI, No. 24, June 14, 2024
Section 162-1-2 - Definitions2.1. Definitions: For purposes of determining the divisibility of the annuity, refund of accumulated contributions, pre-retirement death benefit, or other payment available to a member, retirant or beneficiary of any Retirement System administered by the Board in cases of divorce or legal separation, the following definitions apply: 2.1.a. "Alternate payee" means the person designated in a Qualified Domestic Relations Order to receive all or a portion of the benefits available under one of the Retirement Systems.2.1.b. "Domestic Relations Order" means an order, judgment, or decree which relates to the provision of marital property rights to a spouse or former spouse of a member or retirant, and which is made pursuant to a state domestic relations law.2.1.c. "Exempt service" means all additional service credit due to non-contributory military service and accumulated sick and annual leave.2.1.d. "Participant means the spouse who is a member or retirant in one of the Retirement Systems administered by the Board and whose interest in a Retirement System is divided by a Qualified Domestic Relations Order in accordance with this rule.2.1.e. "Qualified Domestic Relations Order" means a Domestic Relations Order that assigns to an alternate payee the right to receive all or a portion of the benefits payable to a person under any of the Retirement Systems administered by the Board, and which has been determined by the Board as meeting the requirements of this rule and any applicable statute. A "Qualified Domestic Relations Order" under this rule is not intended to, and shall not, mean the same as a "Qualified Domestic Relations Order" as defined in Internal Revenue Code (Code) Section 414(p), except to the extent that the provisions of Code Section 414(p) are applicable to governmental plans.2.1.f. "Vested Accrued Retirement Benefit" means the benefit due to the member or retirant as of the date specified by the parties in the Qualified Domestic Relations Order set out in subdivision 7.2.b. of this rule.