I am a federal employee under the FERS system and from from all the research I've done my pension can not be collected until I retire and I determine when I retire. Part of the reason is that the money I contribute is only a fraction of the retirement. The same is true of my Army Reserve retirement, which is a monthly amount, payable when I turn 60 and my TSP, which I can withdraw from when I turn 59.5.
My wife and I are getting an uncontested divorce. I am trying to be fair with out getting robbed. I believe there is a balance. Anyway, I am proposing that my ex-spouse recieve half of the pension I would recieve when I turn 62 if I retired now - adjusted for COLA, of course.
Does this seem fair? She will get half of my military retirement because she was with me for all of the 20 years I was in the Army / Army Reserves and half of the money I currently have in the TSP.
I am also paying off all the debts accumated during our mariage, but I am trying to do this by giving her the money in spousal support and then having her pay them. This is because I make a lot more than she does. This should even out our incomes to about $40K/year for her and $80k/year for me. I am paying her a generous amount so I think it's fair. Comments?
Thanks in advance for any comments, hopefully constructive, and help.
Edited by natural (10/05/07 01:40 PM)