Wyoming Administrative Code › Agency 072 - Retirement System › Sub-Agency 0003 - Retirement Board › Chapter 6 - QUALIFIED DOMESTIC RELATIONS ORDERS › Section 6-3 - Policy Provisions

Current through July 13, 2024
The following rules are promulgated to reflect the policy of
				  the Wyoming Retirement Board on Qualified Domestic Relations Orders. These are
				  intended to provide the courts with a means of determining what divisions of
				  assets are acceptable to the System.
(a) The Wyoming Retirement System provides a
				monthly benefit at retirement. A Qualified Domestic Relations Order will divide
				that benefit by a percentage determined by the court. A Qualified Domestic
				Relations Order will specify a division of the pre-retirement death benefit of
				the member. In the absence of the order specifying a division of the member's
				pre-retirement death benefit, such division will not be allowed for the
				alternate payee.
(b) In accordance
				with W.S.
				9-3-426(c), upon request of
				the alternate payee, a lump sum refund of the alternate payee's percentage of
				the member's account shall be paid pursuant to the qualified domestic relations
				order. Acceptance by the alternate payee of the lump sum refund terminates his
				right to any further payment or benefit provided by the retirement system. If a
				member is separated from service and is eligible for retirement but has not yet
				applied for retirement the alternate payee is considered eligible and can
				receive a benefit.
(c) In lieu of
				the order specifying another form of payment allowed under the plan, the
				benefit for the alternate payee will be based on the life expectancy of the
				alternate payee. All options available to the member
except
joint and survivor options will be available to
				the alternate payee when the benefit is based on the life expectancy of the
				alternate payee.
(d) An actuarial
				reduction will be made to the benefit amount of the alternate payee in cases
				where the alternate payee is younger than the member and the benefit is based
				on the life expectancy of the alternate payee.
(e) If the alternate payee dies before
				retirement benefits have begun then all benefits awarded by the order will
				revert back to the member.
(f) If
				the member dies prior to retirement, the alternate payee will have the option
				to receive the proportion of the death benefit available as awarded by the
				court, or the retirement benefits determined available to the alternate payee
				at the retirement age of the alternate payee.
(g) In the event the Legislature awards an
				improvement in retirement benefits, the alternate payee's benefits will be
				increased to the extent the increase is attributable to years of service during
				the marriage.
(h) Subsidized early
				retirement benefits will not be provided to an alternate payee in cases where
				the alternate payee receives benefits prior to the member reaching age 60 if
				the member is not yet retired.
(i)
				The Wyoming Retirement System will not accept a division of a Disability Award
				when the disabled member is not of retirement age. If the member is of
				retirement age the distribution will be based on a reduced amount according to
				the age of the member.
(j) Any
				payment by the retirement system to an alternate payee in conjunction with a
				qualified domestic relations order is not subject to the provisions of W.S.
				W.S. W.S.
				9-3-424 and cannot be redeposited by the
				member.