This is not the same as dividing the pension (annuity) over the life time of the federal employee. Since government pension plans are exempt from QDROs, if you observe federal pensions being divided by a “QDRO” or referred to as an “account” it is imperative to seek a second opinion...
ERISA (Employee Retirement Income Security Act of 1974) is the federal statute established to protect the interests of employees who participate in employer-sponsored pension plans. 15. What is REA? REA (Retirement Equity Act of 1984) is the federal statute that created a limited exception to th...
But one of the biggest tax consequences can be the headache of simply changing your name: a mismatch between the name on your federal income tax return and Social Security Administration records can cause problems come tax time. If you change your name as a result of marriage or divorce, ...
Factors influencing pay division include the length of the marriage, state and federal laws, and each party’s financial situation. Understanding the USFSPA Before you start the divorce process, it’s important to understandThe Uniformed Services Former Spouses’ Protection Act (USFSPA), 10 U.S.C...
Factors influencing pay division include the length of the marriage, state and federal laws, and each party’s financial situation. Understanding the USFSPA Before you start the divorce process, it’s important to understandThe Uniformed Services Former Spouses’ Protection Act (USFSPA), 10 U.S.C...
Every situation is obviously different, but let’s use a 50-year-old couple, Sam and Jennifer, as an example. They have 14-year-old twins and a $2-million house, with a $500,000 mortgage, that was bought during their 19-year marriage. Jennifer’s investments, savings and pension earne...
Each party tells their side of the story, and like a judge, the arbitrator renders a legally final and binding decision. In the USA, this is done under the Federal (and state) Arbitration Act and is a substitute for litigation. The result is filed with the court and becomes an order of...
Future pension payments, stock options, profit-sharing plans, and other deferred benefits also count as divisible assets. Federal law governing pensions and deferred-income plans provides some protection here. A covered worker can't cut a spouse out of a share in such plans without the spouse's...
Both Pension Valuation Options include unlimited support from our Pension Analysts. Learn More QDRO Preparation If offsetting a retirement account with another asset is not the best option, let our Pension Analysts prepare the QDRO to divide it. Our QDROs comply with federal and state laws, confor...
Federal law requires all states including Iowa to establish medical care and coverage in all child support orders, see more252E.1A Establishing and modifying orders for medical supportthe bottom line is that parents must provide medical coverage for their children. ...