finz
Carpal \'Tunnel
Reged: 06/17/08
Posts: 6489
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Pension Survivor Benefits
05/07/10 07:08 AM
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I have no idea how the pension and divorce issues work.
My husband may retire next month. We went to the retirement board to fill out some paperwork. We need to decide on which option to pick for his pension.
He can take the 100% amount and if he died, I would not get any monthly benefits.
He can take less and if he died first, I would still get the same continuing pension. There are multiple options with varying amounts he could take now giving me less, but still something if he died first. If I died first, he could pop up to the max amount.
On all of the options for me to still get something if he dies first, it says 'wife/spouse' will get xxx amount.
If we chose one of those options, then divorce in 5 years and we don't divide up the pension, could I still get the survivor benefits as an ex wife ?
If we take one of those options, to protect me now, when we divorce if we split the pension, could he still pop up back to the maximum amount ?
We had thought he would continue working until we are ready to divorce, when the kids have graduated. Unfavorable work conditions may make it better for him to retire now instead.
This is a full retirement. He has over the 23 years service needed to retire even though he is only in his 50's.
We have been married for 16 of those years if it makes a difference.
My concern right now is not about how it would be divided when we do divorce.......it's more a question of are we just giving money away if we don't take the full package now ? Can I collect the 'wife' amount if he died first as an exwife ?
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