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III.

AGREEMENT OF THE PROVISIONS OF THIS QUALIFIED DOMESTIC ORDER.

A. ERISA . This qualified domestic order (QDO) and the provisions contained within shall not be subject to

the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C.A, §§1001 et,

seq., as amended from time to time, or rules and regulations promulgated there under, and court cases

interpreting said act. § 17-109 (B)(9).

B. Order Limitations . This QDO does not require Oklahoma Teachers Retirement System (OTRS) to provide

any type or form of benefit, or any option not otherwise provided under the state law as related to the

Retirement system. The order does not require OTRS to provide increased benefits. This order does not

require the payment of benefits to an alternate payee which are required to be paid to another alternate

payee pursuant to another order previously determined to be a QDO or an order recognized by the

Retirement System as valid prior to the effective date of this act. §17-109(B)(6).

C. Commencement . Payment to an alternate payee will be made in a like manner and at the same time

payment is made to the member. Two options are provided (II.B) & (II.C) for alternate payee to receive

distribution, depending on which way the member decides to take distribution of this account. This order

shall not require payment of benefits prior to the retirement date or withdrawal of the related member.

Only the member decides when to make application for distribution. §17-109 (B)(7).

D. Termination . Amount in II.B. will be paid to Alternate Payee if Member dies before retirement. The

obligation of OTRS to pay an alternate payee pursuant to a QDO shall cease upon the death of the related

member. §17-109(B)(8). In the event that the alternate payee dies prior to the full distribution of QDO

benefits, such benefits shall revert back to the Member.

E. Compliance . If either the Member, his/her beneficiary, or the alternate payee receives any amount of

distribution that should have been paid to the other, the recipient is designated a constructive trustee for the

amount received and shall immediately transmit such amount back to OTRS or the person to whom the

amount should have been paid. An alternate payee who has acquired beneficiary rights pursuant to a valid

QDO must fully comply with all provisions of the rules promulgated by the Board of Trustees pursuant to

this subsection in order to continue receiving his or her benefit. §17-109(B)(11).

F. Validity

This Order, including modifications and revisions of the QDO, is valid and binding only upon

presentation to and acceptance by OTRS.

Court Seal (required):

Dated this ______ day of ___________________, 20______

_________________________________________________

Judge of the District Court

Counsel for Member OBA #:__________________________

Member _______________________________________

Alternate Payee__________________________

OTRS ACCEPTED __________________________

Distribution of Copies: Original—Court File; Certified Copy—OTRS; Copies to: Plaintiff, Respondent, Member’s Employer

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Marital Property Valuation - 401(A) Defined Benefit Account - Oklahoma Teachers Retirement System Page 4