QUESTION
Is it true that I have to wait until my ex is in retiring age before I can get my 50% of his retirement?
Asked on Nov 13th, 2012 on Divorce - California
More details to this question:
I thought I can get it after the qudro has been processed which it has.
13 ANSWERS
Personal Injury Attorney serving Pacific, MO
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Melvin G. Franke
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It depends upon the Judgment and the plan.
Answered on Nov 15th, 2012 at 8:13 PM
Steven D. Dunnings
Depends on the language of the QDRO and the pension This e-mail is covered under the Electronic Communications Privacy Act, 18 USC 2510-2521, and is legally privileged. The information contained in this e-mail is intended only for use of the individual or entity named above. If the reader of this message is not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited
Answered on Nov 15th, 2012 at 8:13 PM
Cohabitation Agreements Attorney serving Cincinnati, OH
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Cathy R. Cook, Attorney at Law
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It depends on the type of retirement. If it is a pension, where he will receive a set amount each month after retirement, you have to wait until his earliest retirement date to receive your funds. If it is a 401k type plan, you can either roll your share into an IRA or take it out in cash. If you do the latter, you will pay income tax on the money.
Answered on Nov 15th, 2012 at 8:12 PM
Dennis P. Mikko
The QDRO directed the retirement company to make certain payments to you rather than to your ex-husband at the time payments are made. It does not give you rights to receive payments immediately on his pension.
Answered on Nov 15th, 2012 at 8:12 PM
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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Yes, you do not get your share until he is entitled to get his.
Answered on Nov 15th, 2012 at 8:10 PM
Probate Law Attorney serving Colorado Springs, CO
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John E. Kirchner
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You don't provide enough information to allow an accurate answer. But, the basic answer is that you are not entitled to anything any sooner than when your ex- is entitled to receive something. Whether he is entitled to anything now depends on what kind of "plan" is involved. If the QDRO has been signed and approved by the Plan Administrator, the QDRO should have the answer to your question. If you are dealing with a 401k or similar type plan, there should be no reason to wait until he reaches retirement age. If the Plan is what is known as a defined benefit plan you can't receive anything any sooner than he can unless the Plan has some specific options for benefits before retirement age.
Answered on Nov 14th, 2012 at 5:39 PM
Suzanne H. Lombardi
In Alaska when a QDRO is filed it all depends on the plan as to whether you need to wait until your husband retires. The state, for example makes you wait until the person retires. I suggest you call the plan and ask them what their policy is. An attorney can help you accomplish this.
Answered on Nov 14th, 2012 at 5:37 PM
Divorce & Separation Attorney serving Menasha, WI
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Petit & Dommershausen, S.C.
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Depends on what kind of plan. If it is an IRA or a similar plan, you can withdraw it. If it is a pension then you have to wait.
Answered on Nov 14th, 2012 at 5:37 PM
You are correct and therefore, do not have to wait until retirement age.
Answered on Nov 14th, 2012 at 5:36 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You need to talk with the attorney who did your divorce about this. If you did not have one, set up a consultation with a local attorney and take the quadro in with you as well as a copy of the final judgment.
Answered on Nov 14th, 2012 at 5:36 PM
You can only get it when the plan says it will pay out.
Answered on Nov 14th, 2012 at 5:35 PM
Family Law Attorney serving Eldersburg, MD
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Law Office of Leo J. Keenan III, P.A.
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Yes, if his retirement is a pension, you get your share on an "if, as and when" basis - if he retires, as he reaches retirement age, and when he retires. If it is a 401k or IRA you can possibly roll your share over into another account.
Answered on Nov 14th, 2012 at 5:35 PM
It depends on the retirement benefit in question. most benefits are divided in a divorce so that each party has a separate account and each can take income from that retirement account when he or she reaches the appropriate age. Please meet at least one time with an attorney who knows about retirement benefits in family law cases so you can be certain of your rights in the benefit in question.
Answered on Nov 14th, 2012 at 5:34 PM