Pension. How many years to get half?

Aug 8, 2012 by


How many years to get half?

New York


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 Team

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