Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 5953.6 - Irrevocable successor payee(a)Condition.--Notwithstanding any other provision of this part, a domestic relations order pertaining to a participant may provide for an irrevocable successor payee if the participant is receiving a payment under a payment option provided by the board that allows for a successor payee.(b)Determination.--A domestic relations order requiring the designation of an irrevocable successor payee is an order which: (1) Requires a participant who is receiving payments from an annuity or other distribution option to designate an alternate payee as a successor payee; and(2) Except by operation of law, prohibits the removal or change of the successor payee without approval of a court of competent jurisdiction.(c)Certification.--A domestic relations order under subsection (B) May be certified as an approved domestic relations order by the secretary of the board or his designated representative. If a domestic relations order is certified under this subsection, the irrevocable successor payee ordered by the court shall not be changed by the participant without approval by the court.(d)Ineligibility.--A person ineligible to be designated as a successor payee shall not be designated as an irrevocable successor payee. A court shall not name an irrevocable successor payee if the alternate payee is eligible to receive a lump sum distribution of the alternate payee's portion of the marital portion of the pension benefit.Added by P.L. TBD 2017 No. 5, § 329, eff. 6/12/2017.