Listen to attorney F. Patrick Keegan discuss the Federal and CA State law and ERISA private plans on dividing retirement plans between divorcing spouses.
The Federal plans consist mainly of the military retirement system and the civilian employees plans, the old Civil Service Retirement System (CSRS), the current Federal Employees Retirement System (FERS) and the Federal Thrift Savings Plan (TSP). The California public employees retirement systems which consist of the Public Employees Retirement System (PERS), State Teachers Retirement System (STRS), the University of California Retirement System (UCRS), the 1937 Act retirement Plans (local city and county plans throughout California) and various State, County and City deferred compensation plans.
We will also discuss the private sector ERISA defined benefit and defined compensation plans.
UPDATE AS OF 04/24/17 THIS PRESENTATION WILL ALSO INCLUDE:
As of late December 2016 the Federal law for the division of the Military retirement (Uniformed Services Former Spouses’ Protection Act” (“USFSPA”) has had some dramatic changes made for the division of these benefits pursuant to divorce. Specifically if the marriage being terminated was less than the full term of the service member’s military career, the former spouse will not receive the benefit of the Member’s base pay increases due to promotions he or she receives after the separation of the parties. In some cases this can be a substantial loss.
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