Protecting QPSA Benefits After Divorce: Why “Surviving Spouse” Status Matters Dividing a pension in a divorce involves more than deciding who receives a share of future retirement payments. The division should also address what happens if the employee spouse dies before those payments begin. For retirement plans that provide a Qualified [...]
A closer look at In Re Marriage of Zamudio and the potential impact on the allocation of early retirement subsidies in divorce (PART I) (In Re Marriage of Zamudio, 2019 IL 124676) This article discusses the potential impact on the allocation of an early retirement subsidy when valuing and/or dividing [...]
Marital Property in Illinois Public Pension Plans (PART II): Actuarial Valuation, QILDROs and the QILDRO Discount Part II of my article discusses the difference in the actuarial valuation of the marital estate if “horse-trading” marital assets versus the actuarial value of the marital estate if divided by Qualified Illinois Domestic Relations [...]
Actuarial Standards of Practice (ASOPs) are guidelines established by the Actuarial Standards Board (ASB) for valuation experts to follow when performing professional services. ASOP No. 34 pertains to the selection and use of economic assumptions for pension valuations in domestic relations matters. Actuarial valuation and life expectancy are related, but they refer to different things. [...]
QDROS Explained:Understanding QDRO Provisions, Joinders, Judgment Language and Survivor Benefits John Madden co-owner of Moon, Schwartz and Madden, is a nationally known retirement benefits valuation expert. In this webinar, John will cove joinders, notice of adverse interest, survivor benefits, Judgment language and more for both public and private retirement [...]
Gray Divorce – Helpful tips on understanding (Q)DRO income streams, pension valuations and survivor benefits. The increase in divorce for people over the age of 50 has risen significantly in recent years and the need for sound legal and financial advice is as important as ever. This article is intended [...]
How to correctly value the community property interest in a public retirement plan such as the Public Employees Retirement Association of New Mexico Often clients wish to consider offsetting the community property interest in a PERA pension against another marital asset such as the equity in a [...]
It's a simple 401(k) QDRO, what could go wrong? Although a qualified defined contribution plan QDRO is generally less complicated than a defined benefit plan QDRO, there are still areas which should not be overlooked if you are preparing your own QDRO or outsourcing to your preferred QDRO provider. The [...]
How to Correctly Value the Community Property Interest In a Public Retirement Plan Often clients wish to consider offsetting the community property interest in a Santa Barbara County Employees Retirement System (“SBCERS”), CalPERS or CalSTRS pension against another marital asset such as the equity in a home or former spouse’s 401(k) [...]
Common mistakes in understanding monthly benefit calculated under a defined benefit plan QDRO. A defined benefit plan QDRO can be extremely confusing when it comes to estimating how much the participant and alternate payee can expect to receive upon retirement. This article is intended to help clarify how this calculation is done [...]
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