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Qualified domestic Relations Order
As a general rule, your benefits under the Plan may not be assigned or used as collateral for a loan, given away, or otherwise transferred. In addition, your creditors may not attach, garnish or otherwise interfere with your Plan benefits prior to distribution. There is an exception, however, to this general rule. The Plan Administrator may be required by law to recognize obligations you incur as a result of court-ordered child support or alimony payments. The Plan Administrator must honor a qualified domestic relations order issued by a court or administrative agency that obligates you to pay child support or alimony, or otherwise allocates a portion of your assets in the Plan to your spouse, former spouse, child or other dependent. The Plan Administrator has developed a procedure governing qualified domestic relations orders. Participants and beneficiaries may obtain a copy of such procedures from the Fund office without charge. |