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 […]

CalPers Could Hold Up Your Retirement Distribution For Up To 4 Years

CalPERS Could Hold Your Retirement Distribution For Up To 4 Years.
Are you one of the over 1.6 million people who are a part of the California Public Employees Retirement System (CalPERS)? Is a portion of the CalPERS benefits being awarded to an ex-spouse? If you answered yes to both questions, you’re presently looking at an average wait time of up to 4 years before  benefits will be awarded.  You might not want to wait to file your QDRO (Qualified Domestic Relations Order) to have CalPERS benefits divided. If you wait until retirement, the process could take longer. If you’re expecting […]