17 Jan How will this pension be split in divorce?
Q. I’m recently divorced. I’m retired and received a pension that has two parts, one I paid into and the other I didn’t. Is my ex entitled to both parts or just the one I paid into?
A. We’re sorry to hear about your divorce.
We’re also surprised this wasn’t addressed by your attorney during your divorce settlement.
Your wife would be entitled to the marital portion of both the employee and employer portion of the pension, said Jody D’Agostini, a certified financial planner with AXA Advisors/The Falcon Financial Group in Morristown.
However, she said, if a portion of the pension was earned either before or after your marriage, then that portion would be 100% yours.
For your pension to be split however, you will need to file a Qualified Domestic Relations Order (QDRO) to split the pension into the two parts, she said.
You can learn more about that here.
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This story was originally published on Jan. 17, 2020.
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