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Retirement accounts, such as a 401(k) or a pension, can be major assets in a marriage and should be considered in the settlement negotiations. Sometimes the retirement accounts of one spouse may ...
During their marriage, Violet had been diligently putting 5% of her paycheck into her retirement fund, which her employer matched. “It hurt to basically pay him off to get out of my life ...
We’ll start with the bad news: Divorce rates for people in their 50s have doubled since the 1990s. And a recent study from the Center for Retirement Research at Boston College found that divorce ...
A qualified domestic relations order (or QDRO, pronounced "cue-dro" or "qua-dro"), is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse's interest in that spouse's share of the asset.
Divorce settlement. A divorce settlement is an arrangement, adjustment, or other understanding reached, as in financial or business proceedings, between two adults who have chosen to divorce. [1] It serves as the final legal agreement between these adults for documenting the terms of their divorce. [2]
A cash balance plan is a defined benefit retirement plan that maintains hypothetical individual employee accounts like a defined contribution plan. The hypothetical nature of the individual accounts was crucial in the early adoption of such plans because it enabled conversion of traditional plans without declaring a plan termination .
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