Consumer Education: Retirement Planning

Eleven financial strategies to consider during your divorce

Tuesday, June 1st, 2010

1)       IRS rule 72(t) allowing hardship withdrawals without the 10% penalty from 401(k) plans during divorce can help cash flow problems during dissolution proceedings;
2)       The Government Pension Offset and Windfall Elimination Provision are federal Social Security rules that often unexpectedly reduce Social Security retirement benefits in divorce situations and may cause inequity;
3)       An apples to [...]

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Social Security, Retirement Benefits, and Divorce

Wednesday, November 25th, 2009

Social Security, Retirement Benefits, and Divorce
Social Security in the United States refers directly to a lesser known federal Old Age, Survivors and Disability Insurance program or OASDI. The program was originally rolled out in the 1930’s in an attempt to limit what were seen as dangers to the American way of life such as increased [...]

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Qualified Domestic Relations Orders – QDRO

Monday, October 19th, 2009

Qualified Domestic Relations Orders
Retirement plans such as 401(k)’s, defined benefit pension plans, and other hybrid employer sponsored retirement savings vehicles are often among the largest assets to be divided during the division of a martial estate. Many of these plans are governed by a set of federal law known as the Employee Retirement Income Security [...]

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Life After Divorce: Beneficiary Designations

Wednesday, July 15th, 2009

Have You Changed all Your Beneficiary Designations?
In January 2009; the U.S. Supreme Court ruled (Kennedy v. DuPont Plan Administrator) against a woman suing her late father’s pension plan for money her mother received, even thought the mother had forfeited her rights to the pension in their 1994 divorce. The Supreme Court determined the beneficiary designation [...]

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