More details to this question:
I have received 7 1/2 years of a pension in my divorce from pacific gas and electric company. I was told through the whole process that I could cash out my share after all was approved through the qrod attorney and now they are saying not until my ex is 55 I ant collect. This is so upsetting because I was counting this tone help me get out of some debt that he had caused. Is there anything I can do to be able to cash out my share. Thank you.I need help
1 ANSWER
If, as appears probable, you received a portion of a pension plan on some kind of "if/as/when" order, then you cannot usually get anything from the plan until the employee's earliest retirement eligibility date. Of course, you and the employee could always play "let's make a deal' to cash out the interest, but if you want money from the plan under a QDRO, you will probably have to wait. And if a QDRO has not already been prepared, approved, signed by the judge and submitted, you need to do that, and as soon as possible.
If you are not sure, you should schedule a consultation with this office, or some other well informed as to divorce, pensions, and QDROs.
Answered on Dec 22nd, 2014 at 6:17 PM