how do you work out pension and 401k?

[crazy73girl]

What is the name of your state?colorado
am i entitled to retirement and pension? and who pays hte penalty to split?

 

[Zephyr]

you could bem for the amount svaed through the duration of the marriage, the penalties would probably be deducted from the total then what remains would be split between the parties. This is not automatic, you would need to request what you may be entitled to.

 

[crazy73girl]

how do i request it if we are not using a lawyer and doing this ourself; on the paper is states retirement and be both checked we dont agree on that issue so we are leaving it to the judge to decide. because my husband does not want to give me any of it and i feel i deserve some of it? so how do i tell the judge that?

 

[LdiJ]

how do i request it if we are not using a lawyer and doing this ourself; on the paper is states retirement and be both checked we dont agree on that issue so we are leaving it to the judge to decide. because my husband does not want to give me any of it and i feel i deserve some of it? so how do i tell the judge that?

First, it can be complicated to divide retirement funds and its not easy to handle it without an attorney.

However, there would be no penalties involved. What happens is that each retirement account is divided into two separate accounts, via a QDRO. Therefore, each of you would be subject to your own penalities if you choose the withdraw any of the money before retirement age.

 

[crazy73girl]

i dont have any retirement/pension only he does so am i entitled to some of this? and he said if he has to be penalized for withdrawing money that he will make me pay for the penalty costs is that fair? and can he do that?

 

[Zephyr]

i dont have any retirement/pension only he does so am i entitled to some of this? and he said if he has to be penalized for withdrawing money that he will make me pay for the penalty costs is that fair? and can he do that?

crazy girl, I am beginning to think your name is appropriate- you are all over the place...no you would not pay penalties, you would transfer funds immediately into the new retirement account that you would open, please consult a lawyer, you doing this on your own IS NOT GOING TO WORK

 

[LdiJ]

i dont have any retirement/pension only he does so am i entitled to some of this? and he said if he has to be penalized for withdrawing money that he will make me pay for the penalty costs is that fair? and can he do that?

You are not listening to what I am saying.

Yes, you are entitled to a share of his retirement fund that accrued during the marriage.

THERE WILL BE NO PENALTIES. HE IS WRONG...unless you handle it wrong. (which is why I said that it can be difficult without an attorney)

The money would not be withdrawn. It would be divided into two separate retirement accounts. One account for you and one account for him.

If you later decide to withdraw the money before you retire, the penalties would be your responsibility.

 

[crazy73girl]

my name is appropriate? what kind of response is that; we come on here to get some type of adviceknowing your not a lawyer but i didnt anticipate rudeness either. some people dont know what to ask for or what advice to seek....some of us arent knowledgeable and that is why you see all these people on here gathering information up just to see what options there could be. i think that was a rude comment and i will never use this service again

 

[nextwife]

Only the pension/401K funds that accrued DURING the marriage get split.

Example: if the account had $20,000 when you married him, and it now has $50,000, the $30,000 that it grew during the marriage gets split, so your share, in that example, would be $15,000 of his $50,000 401K.

If he had pension credits for an employer he left BEFORE he married you, that would not be split at all. But penison during the marriage gets split.