Military Divorce
What you need to know.
What you need to know.
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Pension, Divorce and the Defined Contribution Plan
 Information Provided by: Pension Appraisers, Inc.
This is a private tax deferred savings plan set up by a company or individual that will provide an income to a participant upon retirement:
Examples: Any Thrift Savings Plan, Profit Sharing Plan, Employee Stock Ownership Plan sponsored by a company, or John Doe IRA Account #123456 Benefits may be distributed in a lump-sum payment to the Alternate Payee immediately following qualification of the Order, when the Participant actually retires or at any other time as permitted by the plan.
Some Key Facts to Remember:
Once the plan distributes the lump sum payment to the Alternate Payee, the Alternate Payee must roll over the money into an IRA Account or another similar entity or he/she could be assessed a significant penalty. (Could be 20% or more!)
Information Provided by: Pension Appraisers, Inc.
Suggested Reading
Resources & Tools
HUSBAND’S ADVANTAGE – Pensions earned during a marriage are marital property and subject to division and distribution, but spouses, even professional couples, tend to defer to the husband's career because men still earn more than women.
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Online QDRO Preparation
QdroDeskTM. provides family law attorneys, their clients, and pro se filers an instant, easy, accurate, and affordable way to prepare Qualified Domestic Relations Orders (QDROs), the appropriate settlement agreement language, and processing instructions. And does it all online, with an easy to use, question-and-answer format that has made QdroDeskTM. an industry leader. Terms to Learn
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View Property & Financial Resources in Our Online Bookstore
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Your Right to Child Custody, Visitation & Support Cover Price: $ Your Price: $17.95 You Save: $7.00 "A Plain English Guide to Protecting Your Children" Author: Mary L. Boland, Attorney at Law
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