

What to Know About Dividing Pension Plans In A Divorce
Pension Benefits
As per reservation of jurisdiction, the spouse considered a non-employee could elect to receive her or his share of the pension benefits of the employee spouse at earliest time when the employed spouse will retire. It means that in the case of the employed spouse electing not to retire at earliest opportunity, that spouse must pay the non-employed spouse what the latter would have got in case the employed spouse would have retired. To give an example, if the husband becomes eligible to retire at 55, but elects not to retire in that age, his ex-wife could demand that he provides her the amount of money she would have received if he retired during that age. It is to be mentioned that in case the wife selects this option, she will not receive any increases due to higher cost of living after that date.
Qualified Domestic Relations Orders (QDRO)
The Federal Retirement Equity Act created “Qualified Domestic Relations Orders”. In this system, the court gives orders regarding the retirement plan of the spouse. The Federal law states that the employer must comply with the order terms. However, the QDRO is an essential step in the dissolution process. A number of companies have been created for the sole aim of making them and there are attorneys who only specialize in doing QDROs.
Getting divorced in California can be complicated. Download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.


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