Pension, Employer 401K, Individual IRAs/Annuities, and

#1

We are wanting to settle financially without impacted the others current 401K Plan or Pension.

Pension Plans:
Our current day Pensions are almost exactly equal (he makes more money, but, I have been working longer). Is it correct to use the current day value in this assessment?

401K
The difference between our current day employer managed 401K plans is approximately 150K. My STBX fees that since I have and IRA (roll over from previous 401K Plan, transacted during the marriage period) and Annutiy (he opened for me with using monies from executed stock options (his)), that we are “even”.

Thoughts/opinion?

#2

Assets are valued as of the date of separation. All retirement accounts of each spouse can be balanced against one another to ensure each spouse has an equal amount of funds.

#3

We are wanting to settle financially without impacted the others current 401K Plan or Pension.

Is there a legal form that has to be filed to document this decision. Looks like the QDRO is only used for the purpose having a payout from the Plan.

Does the verbiage in the Separation Agreement suffice. See below.see

Intangible Personal Property. The parties have divided between themselves, to their mutual satisfaction, all intangible personal property owned by them individually and jointly, including but not limited to checking and savings accounts, stocks, bonds, mutual funds, IRA’s, interests in pension and profit sharing plans, promissory notes, franchises, partnerships and the like. Hereafter, neither party shall make any claim against the other for any intangible personal property in the name, possession or control of the other.

#4

Yes, you may waive rights to each other’s retirement accounts in a Separation Agreement- the language you include is sufficient. You may also need to execute your HR’s forms allowing each of you to name alternate beneficiaries on your respective plans.