Current through Register Vol. 48, No. 38, September 20, 2024
a) The System will administer Qualified
Illinois Domestic Relations Orders (QILDROs) issued in accordance with Section
1-119 of the Code as follows with respect to the buyout programs. The
definitions and other provisions of Subpart M are applicable unless otherwise
provided in this Subpart S.
b) A
member's buyout election is a prohibited election requiring the alternate
payee's written consent, in accordance with Section 1-119(j)(1), if the
alternate payee would be entitled to receive a share of the buyout payment
under the most recent valid QILDRO on file with the System as of the effective
date of the election as defined in Section
1650.3300(a).
If the alternate payee does not provide the written consent by the expiration
of the applicable buyout program, the buyout election will be cancelled and any
benefits or refunds due the member or the member's designated beneficiaries
will be calculated according to the provisions of Article 16 that would apply
in the absence of the buyout election, and the QILDRO will be administered as
if the member did not elect the buyout.
c) AAI Buyouts
1) If an alternate payee is eligible to share
in the member's AAI buyout payment under this Section, the alternate payee's
share will be determined from the "partial member's refund" (see Section 1-119
of the Code, Subpart M of this Part, and Section VI (Partial Refund) of the
QILDRO and corresponding provision of any Calculation Order (Section (3)(c) or
Section (4)(C)) on file with the System on the date payment is vouchered (see
Section
1650.1116(f)
).
2) If QILDRO Section III
(Monthly Retirement Benefit) is blank, the member's AAI buyout election may
proceed without alternate payee consent, and the alternate payee will not share
in the buyout payment.
3) If QILDRO
Section III (Monthly Retirement Benefit) is completed but Section IV
(Post-Retirement Increases) does not allocate a share to the alternate payee,
the member's AAI buyout election may proceed without alternate payee consent,
and the alternate payee will not share in the buyout payment.
4) If QILDRO Section III (Monthly Retirement
Benefit) is completed and QILDRO Section IV (Post-Retirement Increases)
allocates a share to the alternate payee, alternate payee consent to the
member's AAI buyout election is required.
5) If QILDRO Section III (Monthly Retirement
Benefit) is completed and Section IV (Post-Retirement Increases) allocates a
share to the alternate payee and the alternate payee has consented to the
member's AAI buyout election, the alternate payee is entitled to share in the
AAI buyout payment in the amount indicated in Section VI (Partial
Refund).
d) APB Buyouts
1) If an alternate payee is eligible to share
in the member's APB buyout payment as provided in this Section, the alternate
payee's share will be determined from the "refund upon termination" or
"termination refund" (see Section 1-119, Subpart M of this Part, and Section V
(Termination Refund) of the QILDRO and corresponding provision of any
Calculation Order (Section (3)(b) or Section (4)(B)) on file with the System on
the date payment is vouchered (see Section
1650.1116(f)
).
2) If QILDRO Section III
(Monthly Retirement Benefit) is blank, the member's APB buyout election may
proceed without alternate payee consent, and the alternate payee will not share
in the buyout payment.
3) If QILDRO
Section III (Monthly Retirement Benefit) is completed, alternate payee consent
to the member's APB buyout election is required.
4) If QILDRO Section III (Monthly Retirement
Benefit) is completed and the alternate payee has consented to the member's APB
buyout election, the alternate payee is entitled to share in the APB buyout
payment in the amount indicated in Section V (Termination Refund).
