|
Pension, Divorce and the Defined Contribution Plan
 Information Provided by: Pension Appraisers, Inc.Key Points
This is a private tax deferred savings plan set up by a company or individual that will provide an income to a participant upon retirement:
Examples: Any Thrift Savings Plan, Profit Sharing Plan, Employee Stock Ownership Plan sponsored by a company, or John Doe IRA Account #123456 Benefits may be distributed in a lump-sum payment to the Alternate Payee immediately following qualification of the Order, when the Participant actually retires or at any other time as permitted by the plan.
Some Key Facts to Remember:
Once the plan distributes the lump sum payment to the Alternate Payee, the Alternate Payee must roll over the money into an IRA Account or another similar entity or he/she could be assessed a significant penalty. (Could be 20% or more!)
Information Provided by: Pension Appraisers, Inc.
Suggested Reading
Resources & Tools
NO GOLDEN YEARS -- For many divorced women, the so-called golden years of retirement can become a hard slog across the rocky terrain of financial hardship, if not poverty. A career homemaker who divorces in midlife often finds herself facing vastly reduced circumstances after a marital breakup.
|
Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Online QDRO Preparation
QdroDeskTM. provides family law attorneys, their clients, and pro se filers an instant, easy, accurate, and affordable way to prepare Qualified Domestic Relations Orders (QDROs), the appropriate settlement agreement language, and processing instructions. And does it all online, with an easy to use, question-and-answer format that has made QdroDeskTM. an industry leader. Terms to Learn
|
View Property & Financial Resources in Our Online Bookstore
|
Women's Rights Manual For Divorce Cover Price: $ Your Price: $29.95 You Save: $26.00 "The Absolute Best Investment in Your Divorce"
|
Men's Rights Manual For Divorce Cover Price: $ Your Price: $29.95 You Save: $26.00 "Uncover Your Options and Unleash Solutions"
|
The information contained on this page is not to be considered legal advice. This website is not a substitute for a lawyer and a lawyer should always be consulted in regards to any legal matters. Divorce Source, Inc. is also not a referral service and does not endorse or recommend any third party individuals, companies, and/or services. Divorce Source, Inc. has made no judgment as to the qualifications, expertise or credentials of any participating professionals. Read our Terms & Conditions.
"a passion for a better divorce℠" - established in 1996
© 1996 - 2019 Divorce Source, Inc. All Rights Reserved.