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stuckinarut
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Pensions and QDROS
      #454621 - 09/25/08 08:15 AM

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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Maury
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Re: Pensions and QDROS [Re: stuckinarut]
      #454655 - 09/25/08 10:52 AM

You really can't be this stupid.

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ILMimi
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Re: Pensions and QDROS [Re: Maury]
      #454707 - 09/25/08 01:58 PM

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
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Re: Pensions and QDROS [Re: ILMimi]
      #454768 - 09/25/08 04:19 PM

LOL...your wrong!

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Buckeye
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Re: Pensions and QDROS [Re: stuckinarut]
      #455499 - 09/27/08 07:06 AM

Ask your attorney - because he is soooooo smart.

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WIFather
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Re: Pensions and QDROS [Re: Buckeye]
      #461112 - 10/11/08 08:23 PM

This is a known troll poster.

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gmd0603
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Re: Pensions and QDROS [Re: stuckinarut]
      #465605 - 10/20/08 10:24 PM

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
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Re: Pensions and QDROS [Re: gmd0603]
      #465671 - 10/21/08 07:17 AM

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
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Re: Pensions and QDROS [Re: jaiye]
      #465684 - 10/21/08 07:59 AM

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
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Re: Pensions and QDROS [Re: gmd0603]
      #466918 - 10/22/08 09:57 PM

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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jaiye
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Re: Pensions and QDROS [Re: ILMimi]
      #468168 - 10/25/08 07:18 PM

Actually IM My attorney did the QDRO on my X's retirement accounts simply because he knew that my X's attorney would drag it out as long as possible and she was so unprofessional with everything else that even through it cost me more it was to my benefit for my attorney to do it. My attorney also did the CO for the same reason even though it should have his attorney's job since my X is the one that filed. And even at that he had to go to X's attorneys office because she blew him off about signing and turning the CO into the judge. When he went over there she hadn't even read it after it had been on her desk for over a week so he sat and waited for her to read and sign it and then took it to the judge for his signature.

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jaiye
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Re: Pensions and QDROS [Re: gmd0603]
      #468171 - 10/25/08 07:22 PM

Yes you can do the divorce yourself and just pay an attorney to prepare the QDRO. It is as LM said around $500 to $700 for prepping the the QDRO. It might also be possible to find a para legal to do it but I would be more comfortable having an experienced attorney do the work.

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ILMimi
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Re: Pensions and QDROS [Re: jaiye]
      #468314 - 10/26/08 08:48 AM

I'm going to let the QDRO hang out there until the ex does it. Given his drug addiction and repeated OD's I'm going to guess he dies before the QDRO happens.

It's sad because I would prefer he stuck around and was a good father to my two kids. But the reality is he can't kick the addiction.


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stuckinarut
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Re: Pensions and QDROS [Re: ILMimi]
      #469408 - 10/28/08 09:06 PM

my lawyer hasnt done any QDROS yet...i was told he has to do 3 for each retirement fund.

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ILMimi
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Re: Pensions and QDROS [Re: stuckinarut]
      #469492 - 10/29/08 07:25 AM

The QDRO usually happens after the dissolution so its no surprise it hasn't happened yet.

One way we are keeping costs down is to have my ex take his half out of the one 401K that had enough money in it minus "his" 401K. So this meant there only needed to be 1 QDRO. For example, if his 401K has $10k, my major 401K had $100K and the third one had $20K, we would sum up the three at $130. He would then "keep" his $10K 401K plus take another $55K out of the one which has $100K in it. I then keep the one with $20K and get what is remaining out of the one with $100K.

This saves about $1000 in lawyer fees to create the QDRO.


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jaiye
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Re: Pensions and QDROS [Re: ILMimi]
      #469936 - 10/29/08 10:05 PM

Im

How would it benefit you to wait? Never mind I think I already answered my own question. You are the only one who has the money to be transferred and of course if he dies before it is done then you won't have to transfer it? Unless however it could be owed to his "Estate" but I am assuming that then your kids would be getting his estate?


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jaiye
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Re: Pensions and QDROS [Re: stuckinarut]
      #469938 - 10/29/08 10:07 PM

It would be one draft for each retirement fund and of course copies for everyone.

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Karen1
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Re: Pensions and QDROS [Re: jaiye]
      #478095 - 11/23/08 07:09 PM

If it were me.. I would not try to do the pension pro se. Hire an attorney to handle the QDRO if nothing else.

In my divorce once the QDRO was done.. my share of the pension was set up in a separate account in solely my name. I have various options on what to do.. withdraw now and pay huge taxes, wait til my EX retires and withdraw all (pay less tax then) or take as monthly payment, or do a combo of both. I have a few years before I have to make this decision. Whatever is taken monthly no longer has a beneficiary. if start the monthly and die a few months later, too bad, nothing for my estate. Thus I will probably wait until I can pay less taxes and withdraw it all. Invest in very low risk or IRA. Then whatever I do not use can go to my son at my death.

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pjstiredofit
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Re: Pensions and QDROS [Re: ILMimi]
      #546090 - 06/16/09 12:04 PM

My attorney told me he would file for the QDRO in Feb 08,but said ex refused to sign so nothing has happened. I was awarded $10K from 401k & $8k from IRA, but haven't seen a dime of either. I am 61, disabled for yrs and was awarded $300 mo ss for 30 mos which expires in Dec.My total income is now $794 monthly, after Dec it will be $494, after speaking with soc sec, it seems I will not get an increase due to most of my jobs had been in food service( waitress) which was great as a working, single mom, I had lunch money everyday, etc..but it really hurts when you go to draw soc security.
I've literally begged atty to ask ex to transfer IRA funds into an acct I had set up,but said ex didn't want to pay penalties. I copied & pasted section from IRS bk saying since we are both over 59 and it was a court order, there would be no penalties, still nothing. Actually atty has quit responding to my emails several mos ago. I was being evicted & desperately needed the money & still do as I am homeless. For now I am staying with a relative but not sure how much longer I can stay here.
I know I need to file motions to enforce & of contempt but atty ignores me on that, so how do I do that myself? I am in Miss & he's in Lamar Co Tx, so there's that problem, but somehow I would get there if I could file them and finally be able to get my fair share.
One thing I do not understand..How is ex able to completely ignore judge's orders? It seems he feels above the law and is more powerful than the judge,otherwise he would be paying me wouldn't he? Why isn't he in contempt for ignoring the orders?


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pjstiredofit
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Re: Pensions and QDROS [Re: pjstiredofit]
      #546093 - 06/16/09 12:08 PM

OOps, forgot to add we were married 22 yrs and that he's ret Navy but that wasn't awarded "at this time" in the divorce papers. Thanks in advance to any help I may receive. PJ

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shortmarriage
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Re: Pensions and QDROS [Re: pjstiredofit]
      #546231 - 06/17/09 12:18 AM

I'm sorry to hear about your situation, and unfortunately, I don't have any advice to offer in your situation.

But, this is an old thread that you replied to. You'll receive more advice if you start your own thread with your post. You should be able to copy and paste what you've written here into that new post. Go to the forum and click on "Post". You'll get more responses that way.


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