Is a QDRO the only way to divide retirement plan benefits?
No. Recall that a QDRO is an order that directs the plan to pay money to the non-participant spouse. Alternatively, the parties could agree that the participant will pay or “buy-out” the alternate payee’s interest. To do this, the parties typically hire a pension actuary to perform a valuation. Generally, buyouts are agreed to prior to finalizing the Marital Settlement Agreement (MSA) or judgment.