divorse and retirement

[krb8g6]

undefinedWhat is the name of your state? south carolina

My wife plans to file for a divorse, she is in kentucky and has been there long enough to have residency. I am still in our home in South Carolina.

1.Can she claim part of my civil service retirement if we have been married less than 10 years, the ten year mark will be in may 06

2.If she can, will she be able to draw any prior to my actual retirement since it is civil service and I cannot receive benefits until I retire?

3.Does it matter who files first when different states are involved.

 

[nextwife]

File NOW, in your state. Don't wait.

 

[krb8g6]

I need to have information on my other questions to make the best decision.

Do you know the answers???

I really dont want a divorse but cant convince her, her state of kentucky has a less stringent program ,it is a no fault state. south carolina requires a year separation and during that time our marriage would be over the 10 yr point, which i have been told is when the other spouse gets half the value. I also dont want to make her angry, since so far we have agreed to work everything out before seeing a lawyer and me filing would put things in the courts hands.

 

[fireboat1]

She may have an interest in a percentage of what ever present value it is worth at divorce, Not half of what you get at retirement age or the yr.your eligible to retire. Years of marriage and work service are important too. How long were you a civil servant,and how many yrs. of that service time were you married.It may also be of importantance whether your pension has vested or not.Pensions that havent vested are basically only worth what you put into it.If you die,get fired,or quit prior to vesting ,it wont be worth much. Vesting in Ny was 15 yrs.She would only be eligible for credit for the yrs. you were married.She wont be able to collect until you retire. I was civil service,and In NY many divorcing couples make a deal,by exchanging property or money ,giving the worker the full retirment benefit.The rule of thumb was ,protect the pension. But the big factor again,yrs. married during your service time.You need to know, is it vested, what present value is,learn the law of your state for precise information and speak to a rep. that knows about the subject in and out.A wrong decision could cost you over your entire life.

 

[krb8g6]

I dont quite understand the term vested? It is retirement through the postal service, so far 25 years, they take out an automatic sum and contribute some as well, I know if I were to quite iI would only get the portion that was deducted from my salary.

what do you know on the 10 year question? would she be able to get anything if it were not ten years?

I am open to having the case filed in either south caroilina or kentucky where she resides, kentucky seems to have a lot less red tape and restrictions.

 

[Bali Hai]

I dont quite understand the term vested? It is retirement through the postal service, so far 25 years, they take out an automatic sum and contribute some as well, I know if I were to quite iI would only get the portion that was deducted from my salary.

what do you know on the 10 year question? would she be able to get anything if it were not ten years?

I am open to having the case filed in either south caroilina or kentucky where she resides, kentucky seems to have a lot less red tape and restrictions.

It doesn't matter how you slice and dice in ANY state, she is entitled to HALF (50%) of your retirement account that accumulated DURING the marriage.

Stop trying to use the 10 years vested crap. When you are vested, so is she, proportionally for the years of marriage.

How did I do Nextwife???

 

[fireboat1]

basically vested means the pension would be a retirement at the time you become eligible ,even if you left prior to that time. The retirement would be dorment until youwere eligible to collect. Say you decided to become a fireman now,and they have a total different system. When you leave the postal job you may not get your contrabutions ,they may remain in the system because they were there after the "vested time,Forget that now,it dont apply.sorry I mentioned it.Read about your vested rights when you get time.at 25 yrs your vested.ThaTS GOOD.Of those 25 yrs. how many were you married to her for. iF i READ CORRECT ITS 10.Those yrs.would need a value put on them and she would be eligible for half that amount (not your full 25 yrs AND ANY OTHER YRS AFTER DIVORCE ARE YOURS TOO.)I assume you worked in the postal service for 15 prior to marriage.I have no idea what she is talking about regarding getting half because your married less then 10 yrs. That makes no sense.Perhaps she is confused with her being eligible for half of the 10 yrs portion of the retirement.You would have to fill out a qualified domestic relations order called a "quadro"pronounced "quad rowi"t would give you the info regarding numbers . You do need an atty.to help you with this.Tip:the longer you work,the higher your pension grows,your salary gets bigger,its also that much longer she has to wait. So you might want to make an offer of money or property. But you got to see what the evaluation of the pension will say her part is wort in now money.Then you can say ,hey keep the car,or offer half of present value in cash . She would be advised not to take half,but you can bargain.I know plenty of guys in NY did it that way.Some had 25 yrs and were married that long. Thats a big 50 percent

 

[krb8g6]

thank you, are you pretty certain that if it is less than 10 years she does not have access to the retirement?? others seem to think there is no such thing as ten years if you married she will get half of the retirement during the period you were married.?

If i or she files before the 10 year period is my retirement safe if procedings drag out beyond the 10yr period.

 

[fireboat1]

Sir,Im sorry if im not clear. You mentioned the 10 yr number.I guess you mentioned in your first post cause your married about 10 yrs.You say you were in your job for 25.yrs. Your wife could be and most likely eligible for credit of retirement benefits for the 10 yrs she was with you while you worked that job.What needs to be done is to find what the present value (dollar amt.of those 10 yrs (the 10 while you were married)she would be entitled to 50% of what that dollar amt is.Or you could just agree that whatever that portion that she is entitled to would be disbursed to her from the pension board at the time you retire.You can pay her off the present day value by cash or trade an asset. Or wait til you retire. The option is probably hers since its her portion. However ,if you cant afford to pay it now, then she must sit til you are ready to retire and collect your benefit.Then she gets hers.Most people I know wanted their cash now to purchase a car or house.Honestly ,you confuse me with this 10 yr question,It doesnt mean anything. She could get the credit if it was 1-25 yrs. But the amt is based on how long she was married to you earning this pension.She gets only 50% 0f that 10 yrs of pension benefit. You get the other 50%.I hope I did it right for you this time and you underdstand.

 

[Bali Hai]

Sir,Im sorry if im not clear. You mentioned the 10 yr number.I guess you mentioned in your first post cause your married about 10 yrs.You say you were in your job for 25.yrs. Your wife could be and most likely eligible for credit of retirement benefits for the 10 yrs she was with you while you worked that job.What needs to be done is to find what the present value (dollar amt.of those 10 yrs (the 10 while you were married)she would be entitled to 50% of what that dollar amt is.Or you could just agree that whatever that portion that she is entitled to would be disbursed to her from the pension board at the time you retire.You can pay her off the present day value by cash or trade an asset. Or wait til you retire. The option is probably hers since its her portion. However ,if you cant afford to pay it now, then she must sit til you are ready to retire and collect your benefit.Then she gets hers.Most people I know wanted their cash now to purchase a car or house.Honestly ,you confuse me with this 10 yr question,It doesnt mean anything. She could get the credit if it was 1-25 yrs. But the amt is based on how long she was married to you earning this pension.She gets only 50% 0f that 10 yrs of pension benefit. You get the other 50%.I hope I did it right for you this time and you underdstand.

His real question is this:

If my wife and I were divorced or have filed for divorce prior to our 10th anniversary is she entitled to any of my retirement benefits?

Answer: YES. If they were married 1 year, 5 years or 9.99 or 25 years she is entitled to 50% of that portion of the retirement account for the duration of the marriage.

This doesn't work like social security. He is thinking that because he is a government employee that some 10 year exclusion applies.

 

[krb8g6]

divorce an retirement

I thank all of you for your information, however I discovered after a long search the following.

My retirement is covered under title5 of the United States Code and is not subject to the same rules as the private sector and are exempt from (ERISA) .

My retirement is CSRS, court orders cannot affect a retirement benefit until the benefit is actually payable to the federal employee.The employee must be eligible for the benefit and must have made a proper application for the benefit. "The payment of a divorced spouse's share in the employees benefit will commence when the employee retires or reaches retirement age"
My wife would not have the option of demanding compensation before I retired.

I am still searching further for more info, "this is fun'"
as well as informative.
Once again thanks all, still think there is something about duration of marriage that plays a factor, if I find it i will let you know

 

[Ohiogal]

I thank all of you for your information, however I discovered after a long search the following.

My retirement is covered under title5 of the United States Code and is not subject to the same rules as the private sector and are exempt from (ERISA) .

My retirement is CSRS, court orders cannot affect a retirement benefit until the benefit is actually payable to the federal employee.The employee must be eligible for the benefit and must have made a proper application for the benefit. "The payment of a divorced spouse's share in the employees benefit will commence when the employee retires or reaches retirement age"
My wife would not have the option of demanding compensation before I retired.

I am still searching further for more info, "this is fun'"
as well as informative.
Once again thanks all, still think there is something about duration of marriage that plays a factor, if I find it i will let you know

What will happen if she is awarded part of the pension is there would be a QDRO put in place so that when you receive retirement benefits she would too, regardless of how long you had been divorced at that point. That is what happens usually with retirement plans.

 

[Bali Hai]

I thank all of you for your information, however I discovered after a long search the following.

My retirement is covered under title5 of the United States Code and is not subject to the same rules as the private sector and are exempt from (ERISA) .

My retirement is CSRS, court orders cannot affect a retirement benefit until the benefit is actually payable to the federal employee.

Many retirement benny's in the private sector are treated the same way.


The employee must be eligible for the benefit and must have made a proper application for the benefit. "The payment of a divorced spouse's share in the employees benefit will commence when the employee retires or reaches retirement age"
My wife would not have the option of demanding compensation before I retired.

So what?? She still gets it.


I am still searching further for more info, "this is fun'"
as well as informative.

Have fun bozo...She still is entitled to HALF the marital retirement accrued for the DURATION of the marriage.

Once again thanks all, still think there is something about duration of marriage that plays a factor, if I find it i will let you know

You ain't going to find any such thing, pay up, and again have fun and don't go postal on us now, ya hear.

 

[krb8g6]

to bali hai

the point to me was smart ass, i wanted to know where i stood under the law and how or how not my wife could effect it. i joined this forum to get information from others who i thought could help me through this. not to get your worthless remarks

 

[Bali Hai]

to bali hai

the point to me was smart ass, i wanted to know where i stood under the law and how or how not my wife could effect it. i joined this forum to get information from others who i thought could help me through this. not to get your worthless remarks

My worthless remarks are on the mark. Do what's right and stop trying to screw her over.

Have a good night sir.