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Drafting QDROs 101
In a divorce there is no single best way to divide a pension. In a given case, the division depends upon the type of pension plan, the nature of the participant’s pension benefits, and the reason the parties are dividing … Continue reading
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The Majauskas Formula
In New York and other jurisdictions, the so-called Majauskas Formula determines the division of a defined pension in a divorce. When Plan participation pre-dates the marriage, this common method employs what is called the Majauskas formula, which takes it name … Continue reading
Posted in Pension Valuation Issues
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The True Value of a Pension During Divorce
A pension may be worth more or is more complicated than the amount that appears on the annual statement. A present value calculation will determine the proper value upon retirement. This is the true value. The present value calculation is … Continue reading
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QDRO Key Points to Remember
Pension authority Anne E. Moss, J.D., author of Your Pension Rights at Divorce, suggests that to divide a pension intelligently the non-participating spouse must find out “what kind of pension it is, how it is funded, and how it pays … Continue reading
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Announcement
The Terms and Conditions of Use have been updated as of 9/22/2015
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Dividing IRA Assets Upon Divorce
When spouses agree to divide an IRA account, they need a Property Settlement Agreement or court order stipulating the amount to be transferred. IRAs are not subject to the anti-alienation requirement of ERISA. Thus, QDROs are not needed to divide … Continue reading
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QDROs and Revocable Interests
Making use of a revocable interest with a QDRO. This regime can be used to fund alimony agreements, provide for child support payments, provide for security interests or provide for a limited number of benefit payments. Most QDROs stipulate the terms … Continue reading
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Dividing The Pension Pie
The three main ways of dividing pension assets are offsetting, earmarking and sharing. Each of these has merits and pitfalls. Offsetting Offsetting means that one partner’s pension is traded off against the other’s assets accumulated from the marriage, such as … Continue reading
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Pension Plan Failures and the PBGC
When a defined benefit plan (DB plan) is terminated, the rights created by a QDRO are assumed in part as obligations of the Pension Benefit Guaranty Corporation (PBGC), which becomes trustee of the plan. PBGC is a federal agency that … Continue reading
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Announcement
The Terms and Conditions of Use have been updated as of 6/3/2015
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