If you've got a pension, count yourself as one of the lucky ones. A pension is more valuable than you realize. With a pension, you won't be forced tolower your safe withdrawal ratein retirement like those of use who don't have pensions. This post will help you calculate the value o...
If this is the case with you, both you and your ex will need to know the dollar amount of non-deductible contributions. You will need to file taxForm 8606with the IRS in order to correctly calculate and report the allocation of the non-deductible amounts.3 Dividing a Qualified Plan: QD...
Other retirement accounts are “not qualified“. A non qualified plan includes an IRA and are not eligible for tax deferral benefits under ERISA. These accounts do not require a QDRO / EDRO to divide. These retirement accounts can be cashed in or rolled over in another account. As a general...
Legal considerations may also arise in situations where the retiree has a spouse or dependent who is entitled to a portion of the lump sum pension. In some jurisdictions, there may be laws regarding spousal consent or a requirement to obtain a qualified domestic relations order (QDRO) for the ...
A QDRO is not required to divide the assets in a traditional or Roth IRA, but you must still make sure the split is done pursuant to a court order (such as a Divorce Decree) such that you do not have to pay penalties or taxes. ...
When you plan to tie the knot can be as important to your cost-saving efforts as where you do it. Check a local events calendar to determine whether anything major is scheduled on or close to your wedding date. Vendors often hike their prices to profit from event crowds, and you might ...