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Old 07-19-2000, 01:33 PM
fmustang42
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Unhappy

This is what the court wants to do with my Government Retirement Plan (CSRS). Please tell me if this is a good thing and if it will work down the road.
“11. The civil service retirement benefits of the petitioner are awarded to the petitioner except the wife is entitled to a share of the civil service retirement benefits. The court will use the reserved jurisdiction method. This means that the court retains jurisdiction to decide the appropriate percentage of the retirement benefits and any other disputed matters. The wife shall be entitled to receive her share of the husband's retirement benefits at the time of her choosing after the husband's benefits mature (i.e., when the husband is entitled to receive benefits). The wife may do so when the husband could first receive retirement benefits or at any later time. The wife's benefits will be calculated on the husband's salary as of August 1, 1999, and the wife will be entitled to her appropriate percentage of all future increases in the value of the pension plan attributable to the inherent qualities of the pension itself such as cost of living
increases. The percentage the wife receives will be based on the formula calculated by multiplying one-half of the benefits which are or then could be received by the husband (based upon the husband's August 1, 1999, salary taking account of increases due to inherent qualities of the pension) at the time the wife wishes to begin receiving her benefits times the fraction represented by the number of credited months (but only those while married) prior to August 1, 1999, divided by the total number of credited months at the time when the wife decides she wants benefits to begin. If the husband has not yet begun receiving benefits, the husband must pay the wife the periodic benefits based upon this formula out of his salary from each of his paychecks. Once the husband has retired, the wife shall he paid her percentage of the benefits directly by the retirement system, if possible. This order shall not be construed as an order to require the husband to retire at any time except when he would choose to do so.”
Thanks so very much,
Chris
Arizona
P.S.
I will be first eligible at 55 years old with 30 years of service. When I turn 55 I will have 31 years of service and she then can come after me for her portion of my money, therefor I may need to retire and go find a new job to make up the dif. in money. How can she collect this money if I don't give it to her???
Thanks,
Chris


 



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