Do I have to wait for STBX to retire before drawing 1/2 his pension?

I am trying to get SS disability and am at the hearing stage, in the meantime my husband asked for a divorce. I had 2 consults with attorneys who say I am entitled to 1/2 his pensions. My STBX is younger by 3 yrs. How exactly does this work? Do I have to wait for him to retire which will be in another 10yrs to receive the funds ? I have no income and will be going for spousal support and could use the funds now. I have applied with legal aid to represent me in this divorce. My husband and I were married 35 yrs, which is a long as he has been employed with this employer .

by naturespath 44 Posts
Posted on 6/19/2009 5:36 PM

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Tags: spousal support , pension , retiement funds
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Answers for "Do I have to wait for STBX to retire before drawing 1/2 his pension?" (2) (You must be logged in to answer)

Interesting question. On a general level, pensions and any other retirement benefits that your ex-husband accrued during the duration of your marriage are subject to equitable distribution during your divorce proceedings. You should not have to wait until he retires to get your share of his pension. That is partly because you are not entitled to the interest gained on his pension after your divorce so it does not make that much sense to have you wait.

States deal with the distribution of pension rights in a variety of ways depending on the circumstances. Some of the ways that pension rights are distributed include:

Determing alimony of spousal payments. Pension plans are typically used as a source of payment by one spouse for the support of the other or for child support. A court may award a portion of a pension plan or the entire plan for such purposes. You mentioned that spousal support is a big issue for you so this will work in your favor when it comes to the immediate liquidation of the funds.
As a factor in dividing other marital assets: If a court in a divorce proceeding awards the entire pension plan to one spouse, it will typically balance its value as an asset by giving an equal amount of community property to the other spouse.

Lastly, you mentioned that legal aid will be representing you during your proceedings. Just make it clear to them that this is a major issue for you and your reasons (spousal s

by legalmatch 38 Posts
Posted on 6/21/2009 1:13 PM

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It depends on the type of pension it is - and if it/they have cash value now. If they have cash value now (like a 401K for example) no, you don't have to wait - but if it is an employer funded program based on years worked, then you would have to wait for those monies.

by spaznskitz 7745 Posts
Posted on 6/19/2009 5:55 PM

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