Search found 40 matches

by lnixon
Fri Mar 02, 2018 1:17 am
Forum: Federal Employees
Topic: Correct name for plans for federal civil service employees
Replies: 1
Views: 739

Re: Correct name for plans for federal civil service employees

A domestic relations order dividing a federal employee’s benefit is called a “Court Order Acceptable for Processing” or “COAP.”
by lnixon
Fri Mar 02, 2018 12:58 am
Forum: Support
Topic: Can a QDRO be done for child support and spousal support?
Replies: 1
Views: 747

Re: Can a QDRO be done for child support and spousal support?

Yes, ERISA provides that an alternate payee can be a child or depending on the participant for child support or spouse or former spouse for support.
by lnixon
Fri Mar 02, 2018 12:58 am
Forum: Support
Topic: How does a QDRO for support for work a defined contribution plan?
Replies: 1
Views: 335

Re: How does a QDRO for support for work a defined contribution plan?

You can do a QDRO for support for a defined contribution plan (i.e. 401k) for a set amount.
by lnixon
Fri Mar 02, 2018 12:57 am
Forum: Support
Topic: Can I do a QDRO for support for a defined benefit plan?
Replies: 1
Views: 324

Re: Can I do a QDRO for support for a defined benefit plan?

Yes. However, the participant must have commenced benefits (in pay status).
by lnixon
Fri Mar 02, 2018 12:57 am
Forum: Disability
Topic: Is a disability pension separate or marital property?
Replies: 1
Views: 793

Re: Is a disability pension separate or marital property?

If military, then a disability pension is entirely separate property. Howell v. Howell, 137 S. Ct. 1400 (2017). Other than military, how a disability pension is treated otherwise is state specific. In California, a should a member receive a disability retirement benefit, then the nonmember is entitl...
by lnixon
Fri Mar 02, 2018 12:53 am
Forum: Valuations
Topic: earliest retirement age?
Replies: 1
Views: 762

Re: earliest retirement age?

Generally, defined benefit plan commence at the participant’s earliest retirement age. The earliest retirement age is the age at which a plan participant may first commence pension benefits under the provisions of the plan. For an ERISA plan, the age is 55. Normally, benefits payable to someone befo...
by lnixon
Fri Mar 02, 2018 12:52 am
Forum: Valuations
Topic: actuarial equivalent?
Replies: 1
Views: 317

Re: actuarial equivalent?

The actuarial equivalent in a defined benefit plan is the actuarial adjustment necessary to convert a participant's benefits into different forms and/or payment periods so that the total value of a participant's pension benefits remains equal (on an actuarial basis) regardless of the form of benefit...
by lnixon
Fri Mar 02, 2018 12:52 am
Forum: Federal Employees
Topic: Remarriage before age 55
Replies: 1
Views: 334

Re: Remarriage before age 55

No. Pursuant to 10 USC §1450(b), a former spouse loses former spouse’s rights to a survivor annuity under the federal employee plans upon remarriage before the age of 55 unless married for at least 30 years.
by lnixon
Fri Mar 02, 2018 12:51 am
Forum: Valuations
Topic: matching employer contributions?
Replies: 1
Views: 288

Re: matching employer contributions?

Contributions made to a defined contribution benefit plan, such as a 401(k) Retirement Savings Plan, by the employer based on a certain percentage of the employee's own contribution. For example, an employer may contribute 50 cents on the dollar for each dollar which an employee contributes to the p...
by lnixon
Fri Mar 02, 2018 12:51 am
Forum: Valuations
Topic: defined contribution plan
Replies: 1
Views: 331

Re: defined contribution plan

A defined contribution plan is a plan that provides for contributions directly to individual accounts established and maintained for each plan participant. The contributions may consist of either employee or employer contributions or both. The participant is generally entitled to receive the account...