Citi Benefits Handbook
Miscellaneous
Nonalienation and Qualified Domestic Relations Orders (QDROs)
Except as may be required under applicable law in the case of a QDRO under ERISA or as otherwise specifically permitted by U.S. Treasury regulations, your benefits under the Plan may not be assigned, transferred, sold, alienated, pledged, or encumbered.
A QDRO is any judgment, decree, or order (including certain property settlement agreements) that provides for child support, alimony, and/or other marital property rights to a spouse, former spouse, child, or other dependent under state domestic relations law. Federal law requires the Plan to recognize proper QDROs, and your benefit may be reduced if a portion or all of your accounts are allocated to another party under a QDRO as noted above. The QDRO must comply with certain legal requirements, including review and approval by the Plan Administrator.
You will be assessed a $750 processing fee for any QDRO reviewed with respect to your Plan account. This fee will be charged to your Plan account prior to the allocation of all or a portion your Plan account to the other party. You should contact the Plan Administrator if you are considering obtaining a QDRO or need a detailed description of the procedures for a QDRO. There is no charge for the procedures.