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#22205 - 07/25/05 05:15 PM Appraising a pension
LAnn Offline
recently joined

Registered: 07/25/05
Posts: 1
My husband and I are working with a mediator. He never mentioned apprasing the pension - He said they take present value from statement and mark it down 65%.., why would you do this and is there something else I should do - ?

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#22206 - 07/25/05 05:32 PM Re: Appraising a pension [Re: LAnn]
Maury Offline
Carpal \'Tunnel

Registered: 06/02/04
Posts: 8182
Loc: This Asylum --->
That is not generally correct. Some plans provide a present value assessment. It is an estimate and may not be accurate.. You may seek an accurate present value assessment from an actuary. It would also be discounted for taxes that must be paid. However, 65% seems far too much. Either you are misunderstanding what they are deductig or they are mistaken in their application.

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#22207 - 07/25/05 07:14 PM Re: Appraising a pension [Re: Maury]
Karen1 Offline
Pooh-Bah

Registered: 06/02/05
Posts: 1804
Loc: Ohio
I am in Ohio and in process of divorce. Re: pensions... a QDRO (qualified domestic relations order) is done by a company. It is my understanding it takes the total months in the marriage, or uses a date the court deteremines, gets the total of the pension earned during those months and calculates from that how much of hte pension I am entitled to. The cost here for that is 350.00 and well worth it to me. Long term marriage so I have a lot of vested amount in the pension and that 350.00 and my attorney fees toward that part of the settlement are well worth the cost.

In my case, I would probably have lost out on marital assets if I had gone the mediator route.
_________________________
"Don't cry because it's over, smile because it happened".

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#22208 - 07/29/05 07:22 PM Re: Appraising a pension [Re: LAnn]
joan Offline
enthusiast

Registered: 09/24/04
Posts: 248
Each state operates under different laws. For example, some offset Social Security, some don't. I used a very good company called Pension Appraisers. I believe they charged under $300. Money well spent. They have a web site www.pensionappraisers.com. You might at least want to call them.

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