29 Sep My ex quit his job. Can I get my portion of his pension?

Q. I am entitled to part of my ex-husband’s pension. He quit his job at the age of 49. Am I able to get it in a lump sum tax-free? Unfortunately, it isn’t much.
— Divorced

A. It’s important for people to understand how their divorce agreement works, and what special circumstances could mean.

You would take the pension in the form that the plan administrator allows, which is usually a monthly payment at a designated age the plan sets, said said Jeralyn Lawrence, a family law attorney with Lawrence Law in Watchung.

“There is not a way to get it as a lump sum or tax-free from the plan,” she said.

But there could be another option.

Lawrence said if your former husband is willing to buy you out — at a reduced price — that’s something that you can negotiate directly with your ex or through your attorneys.

But it’s not something the pension plan, by itself, would do, she said.

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This story was originally published on Sept. 29, 2023.

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