Dividing State And Federal Government Personnel Pensions
Dividing government retirement benefits and pension plans are always a concern for many people going through divorce. These benefits can be among the largest assets individuals accumulate during a marriage and long-term financial stability is a vital concern for any man or woman facing the breakdown of a marriage.
The rules that apply to state and federal government benefits can differ substantially from those that apply to private sector benefit plans. If you or your spouse is entitled to a government pension or retirement program, it is critical for you to work with a lawyer who understands the unique rules, procedures and deadlines involved in dividing federal government personnel pensions. The attorneys at Duff & Kronfeld, P.C. in Fairfax, Virginia, are committed to helping state and federal government workers and their spouses protect their financial interests in divorce.
Lawyers Who Take Care To Protect Your Rights
Federal workers are covered under one of two different programs — the Federal Employee Retirement System (FERS) or the Civil Service Retirement System (CSRS). It is necessary to determine the appropriate system to obtain a proper court order. In addition, government workers often have a Thrift Savings Plan. The retirement plan and savings plan each need a separate order. These orders must be drafted with the appropriate language to divide the assets properly.
Many Northern Virginia residents work for the government. Navigating federal rules in a Virginia family court requires detailed knowledge of the government pension systems, the eligibility requirements for state and federal employees, as well as any potential health care or survivor benefits available to the employee that may impact the overall value of his or her retirement package. Our attorneys and legal team have a strong command of the nuances that apply in dividing government benefits.
If you are facing divorce or separation and have concerns about federal retirement benefits, we are here to help you to safeguard your financial future. To learn more, send us a message to request a confidential consultation or call 703-591-7475.