NC State retirement division


#1

My wife and I separated after I had 14 years in the NC State Employees Retirement System. The retirement account had a specific value at separation (approx $45k). Should equitable distribution be based on the years of creditable service (e.g. She gets half of 14/30 of the payout assuming I work 30 years) or based on its current value? I imagine the account will gain much greater value in the second half of my career relative to the first half. What is the formula for distributing this?

Thanks


#2

I would contact the Department of the State Treasurer and ask for an affidavit detailing the marital value of your retirement accounts. They provide this free of charge, and will show a breakdown of the contributions made, interest earned, and what the projected value will be at retirement age. This will help you decide what figure to use in dividing the account.