Skip to main content
(866) 465-5395 Schedule a Consultation (866) 465-5395 Schedule a Consultation

Pension Plans: An Important Asset in Your Pennsylvania Divorce

| |

If your spouse’s employer offered a pension plan, you may have counted on that money to help fund your retirement. Now that you are getting divorced, you may be worried about your future. You wonder if you’ll have the resources you need to retire. This can be especially stressful if you are over 50.

Fortunately, a pension plan is treated like any asset that acquires value during the marriage. This means that it can be divided. However, it will not be divided automatically.

First, you should determine if the pension should be divided. If you or your spouse have other retirement assets, it might be wiser to offset the value of the pension plan with other retirement accounts. This will save you the cost of dividing a pension plan.

If you’d prefer to have your spouse’s pension plan divided, you must specifically ask for your share of the pension at the time of your divorce. If there is more than one pension plan or a traditional pension plan and a 401(k), you must ask for a share of each. Your attorney will then consult with an experienced pension analyst to determine the marital value of each plan.

Once the marital value of the pension plan has been determined, your attorney will estimate your share of the pension.  He will prepare a QDRO or Qualifying Domestic Relations Order to divide the pension plan.

The QDRO is a separate court order that is submitted to the administrator of the pension plan. The QDRO informs the company of your right to a portion of the pension and makes sure that neither you nor your spouse is penalized for the division. It also makes you responsible for any taxes owed when your share of the pension is distributed.

Retirement is an important consideration in any divorce. Make sure your future is protected; contact Petrelli Previtera at 866-465-5395.

Client Testimonials

They are amazing! I highly recommend anyone that is in need of assistance with child support hearings to seek out the expertise and experience of this law firm and staff! They handled my case quickly and I feel that my money was put to good use. Much appreciated! Nothing less than five stars!

Alana Deverson

I just want to say GREAT JOB! She is a no nonsense professional with years of experience that qualifies her as a skilled Family Law attorney. She is seasoned, sensitive, and most of all she cares. She made things easy for me. Definitely recommend!

Kimberly Colby

Overall I was pleased with the results of my divorce case. The entire Petrelli Previtera team truly cares about their clients. Luckily for me, I was paired up with an amazing team helping all the way. If you happen to work with this firm and with the lawyers you’ll be in great hands. It was such an excellent service and it was beyond I expected.

A Family Law Client Chevy Chase , MD

Serving Clients at the Following Locations

Bethesda4800 Hampden Lane, Suite 200 Bethesda MD 20814(301) 234-7409view details
Maryland5425 Wisconsin Ave Chevy Chase, MD 20815(301) 889-8085view details
ChicagoTwo Prudential Plaza 180 North Stetson Suite 3500 Chicago, IL 60601(312) 252-2085view details
Schaumburg1750 E. Golf Rd, Suite 382 Schaumburg, IL 60173(630) 491-9670view details
Texas500 W 2nd St Suite 1900 Austin, TX 78701(512) 883-1684view details
Washington DC1717 K Street NW, Suite 900 Washington DC 20006(202) 519-0366view details
Denver7900 E. Union Ave. Suite 1100, Denver, CO 80237(720) 821-6440view details
Princeton475 Wall St, Suite 214, Princeton, NJ 08540(609) 917 9560view details
Linwood210 New Road #15 Linwood, NJ 08221(609) 375-0351view details
Parsippany8 Campus Dr, Parsippany, NJ 07054(973) 310-5320view details
Philadelphia1845 Walnut Street 19th Floor Philadelphia, PA 19103(215) 523-6900view details
Montgomery County516 DeKalb Street Suite C Norristown, PA 19401(610) 924-2870view details
Doylestown123 N Broad Street, Doylestown, PA 18901(267) 938-4480view details
Abington1147 Easton Road, Abington PA 19001(610) 890-4833view details
West Chester203 W. Chestnut St., Suite 204
West Chester, PA. 19380
(610) 431-4012view details

schedule a consultation Today

Contact Us Fill out the form or call us today (866) 465-5395
Skip to content