- Has either spouse accumulated a 401(K) plan or IRA during the marriage?
a. Was the 401(K) in existence prior to the marriage which is about to be dissolved?
b. Will the spouse without a 401(K) or retirement plan be requesting a community property portion after the divorce?
c. How will funds be transferred following the divorce? - Military Pension after divorce: does either spouse have a military pension?
a. Has the marriage lasted at least ten (10) years?
b. Does the non-military spouse want to share the military pension after divorce?
c. How will the military benefits be divided after the divorce? - Does either party in the divorce have a pension from their work?
a. How much money was accumulated during the marriage?
b. Does the non-pension spouse want to share in the pension benefits after divorce?
c. When can pension payments begin?
With A Fair Way Mediation of San Diego, each party will be asked to bring in statements from their various retirement accounts. They will need to show the balance on the date of the marriage as well as upon the date of separation.
A calculation will be made of the funds which qualify as Community Property. To transfer the appropriate portion a Qualified Domestic Relations Order (QDRO) will need to be created. This document, when signed by a Judge of the Superior Court will allow a roll-over into a new tax deferred account. Members of the Military qualify for service pensions once they serve Twenty Years. The nonmilitary spouse must be married for AT LEAST Ten years of active duty in order to share in this retirement benefit. Payments to the nonmilitary spouse will not begin until Service person retires.
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