Pensions, Divorce and Common Mistakes
Many woman are not well served by their lawyers, who not are well grounded in the subtleties of the Employee Retirement Income Security Act (ERISA), which is the federal law covering private pensions, and the Retirement Equity Act, which broadened the rights of divorced spouses, or even the particular pension plan of a divorce case.
The Woman’s Institute for a Secure Retirement (WISER) warns against common mistakes divorce lawyers make regarding pensions that a particularly damaging to women. The long-term interests of a middle-aged woman going into divorce can be comprised by a lawyer who
Resources & Tools
A VALUABLE ASSET – Pensions and retirement plans often have significant value. The value of a typical pension benefit payable in the future can be deceiving. For example, a $2,000 monthly benefit payable for life beginning at age 65 can have a value of $100,000 to $200,000 for a person in his or her fifties today. Calculating the value of a pension demands an appraisal to compute its present value, which is the value of money over time.
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PensionAppraisalDeskTM uses a mathematical, web-based calculation software that gives family law attorneys, their clients, and pro se filers an instant, easy, accurate appraisal of the present value of pension benefits for equitable distribution upon divorce.
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