Pension Plan Division with The Western Conference of Teamsters Pension Trust

The Teamsters union is one of the top 10 largest employee unions in the United States representing workers from various industries. Like other major employee unions, they offer and manage pension plan accounts for their members. The Western Conference of Teamsters Pension Trust, which covers 13 Western states, is the largest area-wide multiemployer pension plan in the United States. Local offices can be found here.
Pension Division Of A Western Conference Of Teamsters Pension Plan
During a divorce, property rights are often determined. Sometimes the most valuable asset is a pension plan. The pension plan is either awarded to one person or […]

Joinder – What is It?

A joinder is a set of court documents that are prepared and filed at the court prior to a pension division order. The joinder is usually the first step to in the pension/retirement division. Basically the joinder documents “Join” the pension/retirement plan to the court case making it a third party.The court requires a joinder on most retirement/pension plans for a few reasons. One reason is because like any other court case, all parties involved need to be made aware of the proceedings with a chance to respond. The court allows the plan administrator 30 days to respond to the […]

CALSTRS Pension/Retirement Division

What is CALSTRS? CALSTRS is short for California State Teachers Retirement System. This is the California entity that provides retirement, disability and survivor benefits for teachers and their families. Calstrs, as of 2013 had more than 1700 employers it handled pension funds for. This included school districts, community colleges, offices of education and regional occupational programs. Calstrs is on of the top 10 largest pension funds in the world with more than 800,000 members. Calstrs was formed in 1913 and has their head office located in Sacramento California.

What is a CALSTRS Pension/Retirement Division?
During the completion of a divorce property rights […]

CalPers Pension/Retirement Division

What is CalPERS? CalPERS is the abbreviation for California Public Employees Retirement System. This is the California agency that manages and tracks the general trust fund for pension and health benefits for California public employees, retirees and their families (and former spouses of former employees). Members include workers in law enforcement, schools and some county and city jobs. As of 2013, within the State of California,  there were over 1 million members of which over half of them were receiving monthly benefits.

What is a CalPERS Pension/Retirement Division?
During the completion of a divorce property rights are often determined. Pension/Retirement accounts are […]

The QDRO Valuation Date – Why It Matters

What Is A Valuation Date?
Often times, upon completion of the divorce process, a retirement plan (pension/401(k)) needs to be divided. The judgment will award a percentage or specific dollar amount of the plan’s value to the receiving party. The judgment is only one of the documents needed to authorize the division of the pension. The pension plan administrator will usually need a qualified domestic relations order (QDRO) also. A QDRO is a separate legal order, that splits and changes ownership of a retirement plan to give the divorced spouse their share. The QDRO instructs the plan administrator on how to […]