| summer10 |
| (recently joined) |
| 09/23/05 08:06 PM |
Pension and Social Security Issues
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My friend who resides in Massachusetts is getting a divorce after many years of being separated (total marriage approx 30 years - 20 together, 10 living apart). He receives a pension from a private employer and is currently in "pay status". He is not yet on Social Security. His ex works for the state of MA and will receive a state pension, she is still working FT. Her social security pymt will only be about$200 due to the Government Pension Offset rule. (She can't double dip and get both her pension and ss - but she has some ss due to prior employment.) At the pre-trial hearing the judge stated that my friend's (the husband) social security could not be considered an asset (using the entire future earnings to offset other assets) but when he begins receiving payments, he would have to give the exwife approx 65% of his social security payments so that when retired their incomes would be equal. (Her pension payments are smaller then his.) His lawyer states that there's no law in MA regarding this and the judge can do this if he chooses.
The exwife has an advanced degree and has always made more $ then the husband. The husband was a blue collar worker. This situation seems unfair. If the Government Pension Offset prevents her from "double dipping", why can she do so through his benefit? I'd appreciate if anyone has any input or suggestions regarding this situation. Thanks for taking the time to read this.