As part of our COPS 2.0 initiative, the Fund has taken the time to revisit all of our procedures. As a result, through the help of an outside counsel, we have changed our procedures as they relate to Domestic Relations Orders.
Beginning July 1, 2020, we will no longer accept any Domestic Relations Order that does not conform to our template. All orders approved or certified and submitted for implantation through that date will be honored, however, we encourage the use of our form sooner rather than later. As part of this required template, we encourage parties to agree to a set dollar amount, rather than a complex formula open to wide interpretation. For members who are retired when the terms of the Order are being contemplated, there should always be a set dollar amount; Order that do not follow this rule will not be accepted.
Here you can find a Practice Guide designed for attorneys representing members or their former spouses. This document explains the Police Pension Fund’s requirements, as well as the applicable New York State statutes and Internal Revenue Code provisions.
Here you can find our new required template.
Parties with a DRO entered out-of-state are still required to domesticate the Order. In lieu of New York State registration, a Consent to New York Jurisdiction and Release can be executed, and is available for download here.
While we will answer questions about our new procedures and the template, the Police Pension Fund is prohibited from giving legal or tax advice. Questions can be directed to the Legal Division at (212) 693-5750