(a)
- (1) The alternate payee shall notify the Arkansas Teacher Retirement System of a change of his or her mailing address and verify annually his or her address with the system beginning one (1) year from the date of the letter notifying the alternate payee of the system’s acceptance of the QDRO.
- (2) If an alternate payee’s address changes from the address provided on the QDRO accepted by the system or the address provided by the alternate payee during the system’s enrollment of the alternate payee, the system shall not be obligated to determine the current post office address or any other address of the alternate payee.
(b) If the alternate payee is eligible to receive benefit payments and has not completed and submitted an enrollment form or all other required documents to the system, the following shall apply:
- (1) The system shall notify the member in writing that the alternate payee has not completed and submitted an enrollment form or all other documents required in order for the system to issue a payment to the alternate payee;
- (2) The system shall pay the alternate payee’s portion of the member’s retirement benefits or contributions to the member;
- (3) The member shall hold as constructive trustee the alternate payee’s portion of the member’s retirement benefits or contributions upon receiving the alternate payee’s portion of the member’s retirement benefits or contributions; and
- (4) The member shall be responsible for verifying with the system the amount of the alternate payee’s portion of the member’s retirement benefits or contributions to be held by the member as constructive trustee.
(c) If an alternate payee is eligible to receive benefit payments, the system shall:
- (1) Not hold the alternate payee’s portion of the member’s retirement benefits or contributions in the member’s account; and
(2) Pay the alternate payee’s portion of the member’s retirement benefits or contributions when payment is due to the:
- (A) Alternate payee if the alternate payee has completed and submitted to the system an enrollment form and all other documents required by the system in order to issue the payment; or
- (B) Member to be held by the member as constructive trustee.
(d)
- (1) The system shall pay the member the total retirement benefit if the system determines that the alternate payee’s monthly retirement benefit is less than twenty dollars ($20.00).
- (2) The member shall be responsible for paying the alternate payee his or her portion of benefits if the system determines that the alternate payee’s monthly retirement benefit is less than twenty dollars ($20.00).
Codification Notes: “QDRO” means qualified domestic relations order.