New Mexico Sample Letter to Pension Plan Administrator regarding Division of Plan Proceeds per Court Order

• Category: Letters - Legal - Pension Plan
• State: Multi-State
• Control #: US-0500LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. Subject: Request for Division of Plan Proceeds per Court Order — New Mexico Pension Plan [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Administrator's Name] [Title] [Name of the Pension Plan] [Address] [City, State, ZIP Code] Dear [Administrator's Name], RE: Division of Plan Proceeds per Court Order — [Participant's Name] I hope this letter finds you in good health and high spirits. I am writing to inform you about a court order that directs the division of plan proceeds in accordance with the laws governing pension plans in New Mexico. As the administrator of the [Name of the Pension Plan], I kindly request your attention and cooperation in facilitating this process. The court order in question was issued by [Name of the Court], Case No. [Case Number]. It pertains to the dissolution of the marital relationship between [Participant's Name] and [Former Spouse's Name]. The court has ruled that a division of the pension plan proceeds is necessary to ensure a fair and equitable distribution of marital assets. According to the terms set forth in the court order, the division of the plan proceeds is to be performed as a Qualified Domestic Relations Order (QDR) or as otherwise required by applicable state and federal laws. As New Mexico follows the community property laws, a careful and accurate calculation of the community property share is essential. In line with the court order, I kindly request the following actions to be taken: 1. Review the court order: Please carefully review the attached court order, including any relevant exhibits, to familiarize yourself with the specific provisions and requirements regarding the division of plan proceeds. 2. Communicate with the parties involved: Reach out to both [Participant's Name] and [Former Spouse's Name] to acknowledge receipt of the court order and to inform them about the process for dividing the plan proceeds. 3. Calculation of benefits: Work with a qualified actuary or specialist to calculate the community property share of the pension plan proceeds accurately. Ensure that any relevant assumptions, such as valuation dates, method of division, interest rates, and mortality tables, are followed in line with New Mexico state statutes and regulations. 4. Preparation of the draft QDR: Once the division amount has been determined, collaborate with legal counsel to draft and prepare the QDR in compliance with applicable state and federal laws. Ensure that the QDR includes all necessary provisions, including the name and address of the alternate payee, the amount or percentage to be distributed, and the payment commencement terms. 5. Review and submission of QDR: After the draft QDR is prepared, kindly review it with the legal counsel representing both parties to ensure it accurately reflects the court's order and is legally sound. Once approved, promptly submit the QDR to the court for their approval and filing. Notify both [Participant's Name] and [Former Spouse's Name] regarding the progress and estimated timeline. 6. Implementation of the QDR: Upon receiving the court-approved QDR, execute the necessary adjustments and distribute the allocated portion of the plan proceeds to the identified alternate payee as per the court order. I understand the complexities involved in such matters and genuinely appreciate your cooperation and attention to detail throughout this process. By adhering to the court order and complying with New Mexico laws, we can ensure a fair and equitable division of the plan proceeds. Please let me know if any further documentation or information is needed to facilitate the division process. I anticipate your prompt action and look forward to a successful resolution. Should you have any queries or require clarification, please do not hesitate to contact me at [Email Address] or [Phone Number] during business hours. Thank you for your assistance in this matter. Sincerely, [Your Name]

Subject: Request for Division of Plan Proceeds per Court Order — New Mexico Pension Plan [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Administrator's Name] [Title] [Name of the Pension Plan] [Address] [City, State, ZIP Code] Dear [Administrator's Name], RE: Division of Plan Proceeds per Court Order — [Participant's Name] I hope this letter finds you in good health and high spirits. I am writing to inform you about a court order that directs the division of plan proceeds in accordance with the laws governing pension plans in New Mexico. As the administrator of the [Name of the Pension Plan], I kindly request your attention and cooperation in facilitating this process. The court order in question was issued by [Name of the Court], Case No. [Case Number]. It pertains to the dissolution of the marital relationship between [Participant's Name] and [Former Spouse's Name]. The court has ruled that a division of the pension plan proceeds is necessary to ensure a fair and equitable distribution of marital assets. According to the terms set forth in the court order, the division of the plan proceeds is to be performed as a Qualified Domestic Relations Order (QDR) or as otherwise required by applicable state and federal laws. As New Mexico follows the community property laws, a careful and accurate calculation of the community property share is essential. In line with the court order, I kindly request the following actions to be taken: 1. Review the court order: Please carefully review the attached court order, including any relevant exhibits, to familiarize yourself with the specific provisions and requirements regarding the division of plan proceeds. 2. Communicate with the parties involved: Reach out to both [Participant's Name] and [Former Spouse's Name] to acknowledge receipt of the court order and to inform them about the process for dividing the plan proceeds. 3. Calculation of benefits: Work with a qualified actuary or specialist to calculate the community property share of the pension plan proceeds accurately. Ensure that any relevant assumptions, such as valuation dates, method of division, interest rates, and mortality tables, are followed in line with New Mexico state statutes and regulations. 4. Preparation of the draft QDR: Once the division amount has been determined, collaborate with legal counsel to draft and prepare the QDR in compliance with applicable state and federal laws. Ensure that the QDR includes all necessary provisions, including the name and address of the alternate payee, the amount or percentage to be distributed, and the payment commencement terms. 5. Review and submission of QDR: After the draft QDR is prepared, kindly review it with the legal counsel representing both parties to ensure it accurately reflects the court's order and is legally sound. Once approved, promptly submit the QDR to the court for their approval and filing. Notify both [Participant's Name] and [Former Spouse's Name] regarding the progress and estimated timeline. 6. Implementation of the QDR: Upon receiving the court-approved QDR, execute the necessary adjustments and distribute the allocated portion of the plan proceeds to the identified alternate payee as per the court order. I understand the complexities involved in such matters and genuinely appreciate your cooperation and attention to detail throughout this process. By adhering to the court order and complying with New Mexico laws, we can ensure a fair and equitable division of the plan proceeds. Please let me know if any further documentation or information is needed to facilitate the division process. I anticipate your prompt action and look forward to a successful resolution. Should you have any queries or require clarification, please do not hesitate to contact me at [Email Address] or [Phone Number] during business hours. Thank you for your assistance in this matter. Sincerely, [Your Name]