A domestic relations order issued by a state court that gives a spouse, former spouse, child, or other legal dependent of the plan participant a right to some part of the participant's interest in the qualified plan. A QDRO also meets certain other federal law requirements.

Qualified Joint & Survivor Annuity

An annuity that pays benefits as long as either the retiree or spouse continues to live. In effect, it is a life annuity that considers two lives.

Qualified Retirement Plan

A retirement plan that meets the stringent requirement of Section 401(a) of the Internal Revenue Code (IRC) and the Employee Retirement Income Security Act of 1974 (ERISA). Qualified plans have unique tax advantages for employers and plan participants.