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My divorce was final in Oct.2006, the pension QDRO was never drafted. It is a defined benefit pension with PSE&G. I am still working. Age 58. I am eligible for early retirement. During negotiations prior to the divorce, I had asked my attorney how much my ex-wife would receive from my pension. She said one half. I said one half of what and she told me that it would be one half its value at the time of the complaint for divorce. She told me it would be treated the same as the 401K whereby any future value past the filing of complaint for divorce would not be subject to equitable distribution. I had no reason to believe the pension would be treated otherwise as she further explained that my ex-wife would receive an amount equal to one half of my monthly benefit as of the date of the filing for the divorce. I recently found this to be entirely wrong. I was never offered the option of buying out my ex-wife's share of the pension at the time of the divorce even though the
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Alimony, including Establishment, Modification, Termination, and Enforcement Attorney serving Parsippany, NJ
Partner at
Weinberger Divorce & Family Law Group, LLC
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I have seen your question.
My name is David Salvaggio. I have more than 35 years of legal experience and head a law firm that devotes its practice exclusively to New Jersey Divorce and Family Law matters.
Please feel free to take a look at our Firm Website (www.salvaggiolaw.com) for further information about my firm.
In New Jersey, equitable distribution of a defined BENEFIT pension is not handled at all like that of a 401K (which is a defined CONTRIBUTION retirement benefit).
You need to meet as soon as possible with a very experienced lawyer who devotes his/her entire practice to New Jersey Divorce and Family Law matters.
Go over your situation in detail with the attorney, get educated answers to your questions, and obtain expert guidance as to the best course of action. In my opinion, it will be well worth the cost of the meeting.
Your question does not specify the town in which you live. My firm's offices are located in Morristown, NJ (Morris County). We handle cases in all of the counties in northern and central New Jersey, including not only Morris County but also Somerset, Hunterdon, Sussex, Warren, Passaic, Bergen, Hudson, Middlesex and Monmouth counties.
If you live in one of those counties and wish to schedule a meeting, please call my office (973-455-1220) and speak to the firm’s Client Intake Coordinator Dara Vanderhoof. She will be able to arrange a mutually convenient date and time for the meeting.
Answered on May 29th, 2015 at 1:57 PM
SALVAGGIO LAW GROUP LLC (877) 355-5281 www.salvaggiolaw.net This answer is not intended to be legal advice. Please consult an attorney.