Retirement Plans & Retirement Funds
Ohio 401(k), Pensions and Retirement Accounts Divorce Lawyer
Retirement assets, such as Social Security retirement benefits, are rarely earned solely from work which was done during the marriage. In a divorce, it is necessary to determine what portion of a retirement account is subject to division of marital assets under the law.
Retirement investments are sometimes held in what are known as defined-contribution accounts such as a 401(k) or 403(b). The total value of these retirement accounts is relatively easy to determine. However, these assets are also sometimes held in defined-benefit accounts such as a retirement account which is set to pay the spouse a certain amount each month. In this situation, the amounts payable each month will vary depending on when the spouse chooses to retire.
Columbus, Ohio, QDRO and DOPO Divorce and Asset Division Attorney
Call our offices at 614-228-1968, or e-mail us today
The law generally permits the division of a retirement plan with what is called a Qualified Domestic Relations Order, or QDRO. However, some state plans have a completely different way of allocating retirement benefits between divorcing spouses. In these cases, a Division of Property Order, or DOPO, is necessary. These plans include:
- State Employees Retirement System of Ohio (SERS)
- Public Employees Retirement System (PERS)
- Ohio Public Employees Retirement System (OPERS)
- State Teacher’s Retirement System of Ohio (STRS)
- Ohio Police and Fire Pension Fund
We regularly work with a number of experts who specialize in valuing retirement plans and helping us with the design of QDRO’s or DPO’s. Many of these are the same experts who administer retirement plans on behalf of large national corporations.
Contact us today to schedule a detailed and confidential discussion of the challenges you face in the valuation and division of retirement accounts in your divorce. Whether you have, or your spouse has, a 401(k), an IRA, a company pension or other retirement vehicle, an experienced and knowledgeable attorney at our firm can guide you through the process of precise valuation and retirement portfolio division.