Handling the Complexities of Pension Division
Many Virginia-based government employees and military personnel, as well as some private sector employees enjoy valuable pensions that serve as a safety net following the end of their careers. Government employees and military personnel may participate in the Federal Government's Thrift Savings Program which is in addition to their pension. Many private sector employees have retirement savings plans such as 401(k), 403(b), employee stock purchase plans (ESOP), restricted stock, stock options and deferred compensation plans.
Each of these plans have unique rules governing their division, which can vary from employer to employer. Each plan can also have unique tax consequences affecting their division and use. When those plans are built during the course of a marriage that is now facing an end, you need an attorney who will take a personalized approach to the complexities of a government or military pension.
At the office of Edward V. O'Connor, Jr., P.C., we haves extensive experience with various pension plans from private industry to public service.
Do not place a valued asset in the hands of a lesser-experienced attorney who may be unaware of the nuances involved in the division or protection of a pension plan. Contact our Fairfax office at 571-748-3581.
Analyzing Your Pension and Answering Difficult Questions
The courts can only divide the portion of a pension acquired during the marriage. Our job is to identify and analyze the specifics to ensure a fair and equitable division. We also answer questions regarding the following:
- Effects of remarriage
- Issues involving survivor benefits
- Impact on other employee benefits
- Costs associated to a cash-out prior to retirement
Dedicated to Detailed and Equitable Pension Division
Taking on pension division is a complicated if not Herculean task. Making one mistake or ignoring the smallest detail is simply not an option. Our dedication to you involves attending to every detail, bringing comprehensive experience and knowledge of the law. Far too much is at stake, specifically your future financial security.
Contact Us
For more information or to schedule an appointment with an experienced lawyer regarding division of pensions and 401(k)s, please contact us.
