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Division Of Future Pension Benefits

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  • 05-17-2007, 05:43 PM
    f_flyer
    Division Of Future Pension Benefits
    I have a defined pension plan from a company I am no longer with. The plan will not pay anything out until age 65. I am 53 now. There is no provision to collect a lesser monthly payment prior to age 65.

    How is such a plan handled in a divorce as it may never pay out or be collected on? This would assume you live to collect and /or the pension plan stays funded.

    I should also mention there is no payment to spouse after my death.
  • 05-18-2007, 11:51 AM
    Mr. Knowitall
    Re: Pension handling
    Typically a QDRO (Qualified Domestic Relations Order) would be issued allocating your spouse a share of the pension, should it ever enter pay status. These are complicated orders, although some employers offer standard QDRO's to use as a model, which are consistent with state laws and the needs of the pension administrator. Even lawyers often outsource the drafting of QDRO's to other lawyers or accountants who specialize in their preparation, so don't underestimate how tricky this can be.
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