Pension. How many years to get half?

Aug 8, 2012 by

Question: 

How many years to get half?

State: 
New York

Answer: 

In New York, all retirement plans and pensions are marital property and subject to equitable distribution. The division requires a Qualified Domestic Relations Order be drawn up and the court will use a mathematical formula where the accrued benefit is multiplied by a fraction to calculate the split. The number of months of the marriage, and the number of months of employment are multiplied by a percentage. In long marriages, the percentage is usually 50% but that does not mean the actual dollar amount received will be exactly 50% of the cash benefit. Your pension plan administrator can give you more details. – The Divorce.com Team

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