Division of Retirement Benefits

Qualified and non-qualified retirement benefits are some of the most valuable assets available for division in a divorce.

Retirement benefits may include qualified and non-qualified pension plans and qualified defined contribution plans and non-qualified deferred compensation plans. There are plans from private employers and plans from governmental entities, including federal, state and municipal employers, as well as military plans. All have different complex rules for dividing them. It is important to understand the need to provide for pre-retirement and post retirement survivor benefits to ensure that the assigned benefit is not lost. There are additional benefits that can be assigned such as cost-of-living-adjustments (COLAs), early retirement subsidies, and adjustments for investment gains/losses. Tax implications may also need to be addressed. It is important to understand the value of retirement benefits and that what you get and what you give up can affect you financially for the rest of your life.

Mediate Division of Retirement Benefits Prejudgment

In pre-judgment mediation related to the division of retirement benefits, Attorney Ursin:

  • will help identify ALL retirement benefits, including qualified and non-qualified benefits, pension plans and individual account plans;
  • will explain retirement plan provisions, plan restrictions, distribution options, death benefit protection and tax ramifications;
  • will explain how Social Security benefits can be factored in where one party does not have Social Security benefits;
  • will explain the rules for assigning stock, stock options and restricted stock;
  • will assist with the equitable division of retirement benefits based on the types of plans the parties have and can also factor in the equitable division of non-retirement assets.

Draft Settlement Agreement Language

Attorney Ursin can assist in drafting settlement agreement language to properly address survivorship benefits, loans, actuarial adjustments, application of investment gains/losses, valuation dates, timing of benefit payments and taxation in the division of qualified and nonqualified retirement and stock benefits.

Provide Testimony/Opinion Letters

Under Connecticut law, a witness can offer a legal opinion on an issue of foreign law (e.g., federal law), but cannot offer a legal opinion as to the status or requirements of Connecticut law or how the law should be applied. However, the Connecticut Code of Evidence, provides that a witness qualified as an expert by knowledge, skill, experience, training. or education may testify concerning Connecticut law if the testimony will assist the court in understanding the evidence or in determining a fact at issue.

Attorney Ursin can provide expert testimony with respect to the requirements of federal law related to qualified and non-qualified pensions and Qualified Domestic Relations Orders (QDROs). She can also provide expert testimony based on her knowledge, skill and experience concerning Connecticut law to assist the court in determining a fact at issue.

Attorney Ursin can also provide to family law attorneys legal opinion letters related to qualified and non-qualified pension and individual account plans, as well as tax issues.