Policy on Domestic Relations Orders North Carolina Supplemental Retirement Plans

Adopted: August 26, 2021
Last Revised: December 1, 2022

1. The award in a domestic relations order will be calculated by the plan’s recordkeeper and placed in a plan account for the alternate payee, who becomes a participant in the plan. The recordkeeper is Empower as of the date of this policy.
    
2. Unless otherwise required in the domestic relations order, the calculation of the award will not include any amount in the participant’s loan fund.
    
3. Unless otherwise required in the domestic relations order, the award will be taken pro rata from the participant’s investments in the plan, and the tax basis for the investments in the award will be the same tax basis as the investments in the participant’s account.
    
4. An alternate payee will not be eligible for any payment, benefit, or other right under a plan that would not otherwise be available to a participant.
    
5. As part of reviewing, responding to, or administering a domestic relations order, the Department and the recordkeeper may provide the following information regarding a participant’s plan account to the alternate payee or the alternate payee’s attorney or representative:
    
6. See “Domestic Relations Orders for the North Carolina Supplemental Retirement Plans” for additional information regarding domestic relations order for the plans. The document is located on myNCRetirement.com  and includes information on submitting draft and court-entered domestic relations orders, model order templates, and the required affidavit for the review of draft orders. See myNCRetirement.com for model order templates for the NC 401(k) Plan and the NC 457 Plan.
    

Revision History and Effective Dates