Changes to personal status
If you are legally separated or get divorced, certain judgments, decrees, or court orders could require that part of your benefit be paid to someone else — your spouse, former spouse, or children, for example. This is known as a Qualified Domestic Relations Order (QDRO). A QDRO could affect benefits paid to you or your beneficiaries.
A QDRO is a Court order, judgment, or decree issued under a state's domestic relations law that recognizes the right of a spouse, former spouse, child, or other dependent for you in an employee benefit plan to receive all or a part of your account balance in the plan.
The QDRO must meet specific requirements mandated by federal and state law and the provisions of the Plan. Additionally, in the State of California, to execute a QDRO, Savings Plus must first be joined as a party to the legal proceedings. If your divorce was filed outside the State of California and you reside in a state other than California, the Plan does not require parties to be joined.
For more information, view the QDRO Fact Sheet and model language featured here:
Savings Plus is separate from California Public Employees' Retirement System (CalPERS). If you have questions regarding CalPERS, call 1-888-225-7377 or visit calpers.ca.gov.
Promptly notify Savings Plus regarding the death of a Savings Plus participant. Contact a Solutions Center representative. You may also report the death via a letter.
When you contact us, provide the participant's name, last 4 digits of their Social Security number, and date of death. Savings Plus will also need your name, contact number (including area code), address, your relationship to the deceased, the decedent's address, and contact information for relatives and/or beneficiaries.
The designated beneficiary(ies) will receive information once we are notified of the death.
A Power of Attorney is a legal document that gives someone you designate the power to act for you if you become incapacitated, due to an illness or disability. It may help give you peace of mind knowing that your assets are being accounted for. Realize that you must be of sound mind at the time the document is signed, so prepare it well before retirement.
Here are a few tips in setting up a Power of Attorney:
- Designate a trusted family member, friend or professional whom you trust implicitly to act in your best interest
- Decide upon the scope of the power you wish to give
- Have the form drafted by your attorney
- Sign the form in front of a notary public
- Give the original form to your designee so they can act in your place if the time comes
Your plan must receive and approve an original or certified copy of the Power of Attorney prior to implementation.
This information is not intended as legal or tax advice; it is for educational purposes only.
When you volunteer or are required to take military leave, serve as a Federal Emergency Management Agency (FEMA) reservist, or are activated under the National Disaster Medical System (NDMS), you may qualify for special Service Leave provisions established by The Uniformed Services Employment and Reemployment Rights Act (USERRA). Please contact us to update your status. A Solutions Center representative will ask for the information we'll need, provide you with options available to you under the plan, and answer any questions you may have.
Repayments
If you're in the process of repaying a loan when you are called to active duty, you may be able to suspend making repayments while on active duty. If repayment is deferred, the outstanding loan balance – including interest and any fees – will be recalculated when you return from active duty. You can then resume payment on your loan under a new loan agreement or pay the balance in full.
To take advantage of the loan provisions, fill out the Service Leave Loan Repayment Agreement
Service Leave make-up deferrals
When you return from active duty, you're also eligible to make Service Leave make-up deferrals for up to the same amount that you could have deferred had your employment not been interrupted by your service. You can begin your make-up deferrals in the calendar year that you return from service, but you might benefit by waiting until January of the next calendar year. That way you can spread out the deferral amount over a full year instead of just a few months.
To take advantage of Service Leave make-up deferrals when you return, you'll need the following:
- Service Leave Make-up Contribution Booklet
- Active Duty or Reservist Service Orders