stuckinarut
Pooh-Bah
Reged: 10/12/07
Posts: 1631
Loc: Island of Man
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Do I have to tell stbx's lawyer or the judge how much is in my pension and retirement funds or does a qdro do that? Does a qdro show if i took any money out before it was executed? When does a qdro get done? Is there a time limit for it to be done?
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"The King of fraud and corruption"
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Maury
Carpal \'Tunnel
Reged: 06/02/04
Posts: 8146
Loc: This Asylum --->
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You really can't be this stupid.
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ILMimi
addict
Reged: 01/03/08
Posts: 502
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My hypothesis has always been that Stuck is a Psychology PhD student doing his thesis on "the reaction of closed communities to inappropriate behavior" and we are his experiment.
And it looks like he has broadened its scope to "the reaction of closed communities to stupid people."
He has asked us question after question about the discovery process and he has even posted questions about what his "STBX" wants from his retirement account. He knows the answer to this question already.
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stuckinarut
Pooh-Bah
Reged: 10/12/07
Posts: 1631
Loc: Island of Man
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LOL...your wrong!
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"The King of fraud and corruption"
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Buckeye
Carpal \'Tunnel
Reged: 12/08/05
Posts: 7857
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Ask your attorney - because he is soooooo smart.
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WIFather
newbie
Reged: 10/10/08
Posts: 35
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This is a known troll poster.
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gmd0603
recently joined
Reged: 10/20/08
Posts: 2
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I have a questions regarding my soon to be ex's Police Pension Fund (Illinois police officer). My husband and I have been married for 18 1/2 years. We have decided to go ProSe and file for a divorce together. We have agreed on the Dissolution of Marriage and Joint Parenting Agreement. I am just concerned that I am not wording the Retirement Plan properly. Also, I was told that the police pension fund is to be filed with a QILDRO (Qualified Illinois Domestic Relations Order). We have agreed to 50/50 and I just want to make sure that I don't get the papers messed up. Here is my wording:
"Retirement Benefits
1. The Husband represents that he has a separate and accumulated retirement benefit during the course of the parties’ marriage and that the Wife claims any and all interest in said retirement benefit per statutory requirement. The Husband shall provide to the Wife a certified copy of all accumulated contributions, accrued benefits, and other interest in the plan administered by the retirement system, such data shall reflect totals up to the date of the entry of Dissolution of Marriage. The Husband shall deliver the certified copy to the Wife within 30 days of the entry of Dissolution of Marriage.
2. The Wife represents that she had a separate and accumulated retirement benefit during the course of the parties marriage and such accumulated benefit was liquidated to pay for debts that were incurred during the course of their marriage and put towards the purchase of the marital home in which the husband currently resides.
Not sure if you can help. Thanks in advance.
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jaiye
old hand
Reged: 10/27/05
Posts: 860
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You are most likely going to need an attorney to draw up the QDRO. It has to be done to an exact way in order for the pension plan administrator to accept them. Each pension plan has their own formula that they want it to adhere to.
If the division is not done through a QDRO which stands for Qualified Domestic Relations Order then taxes and penalties will be assessed on any funds that are removed from your STBX's retirement or pension plan.
Normally what happened is that the attorney will contact the plan administrator for a template for the QDRO for the plan. The attorney will write the QDRO to the plans specifications. Your X and you will both sign off on it. It then gets submitted to the plan for approval and then it will got to the judge for him to sign approval to turn it into an order and then gets sent back to the plan administrators for it to get divided and your portion set aside for you. You do realize that you are only entitled to half of only the portion that was accrued during the marriage and not to half of anything that accrues after the divorce? And actually paragraph 2. is completely not needed unless of course you just took it out last week instead of years ago. Why would you bother to tell the judge about something that happened before the divorce filing unless you are trying to get reimbursed for the monies spent.
In any case I have worked for two different lawyers and I wouldn't try to file for the QDRO myself even though I have typed many filings. Too much at stake if you get it wrong.
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gmd0603
recently joined
Reged: 10/20/08
Posts: 2
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Jaiye,
Thanks for the information. The only reason I put paragraph 2 in was because my husband was originally complaining that I was going to take my portion of the pension. I explained to him that it was maritial money. If it wasnt taken out of your paycheck every month, we would have spent it for our family. And, I told him that I used my pension for our family. I guess it was just a point to my husband showing that I did have a pension too and we used it together. I am not looking for any monies to be reimbursed.
One more question, I can go in and file for a divorce on my own and everything and then hire someone to take care of the QDRO. Would that be ok?
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ILMimi
addict
Reged: 01/03/08
Posts: 502
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Things to consider adding:
- whomever does the QDRO pays for the lawyers fee for it (cost is $500-$700)
- put a deadline on when the QDRO should be done otherwise it could hang out there forever, e.g. one year after the dissolution of the divorce.
And are you valuing it the day of the dissolution or the day of the distribution? Mine is the date of distribution to prevent any ups and downs from the markets making the distribution unfair.
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