Recently we talked a bit about the practicalities and legalities of what a federal employee’s actual “basic pay” really is. Basic Pay is of course very important if for no other reason than it becomes one of the single biggest factors that determines how large an employee’s annuity (retirement check) will be. … Read the rest
Yesterday we got into a few of the details about Reserve Component Retirement Points and why the standard months married over months of service might not be the right way to go when calculating options for dividing a reserve component retirement annuity. here’s a few general pension division rules and why I think some finesse is required when the pension is derived from Reserve Component service. Obviously I am not an authority and not every state’s rules are the same, but this is the general format:
- Only the portion of retirement benefits accrued during the marriage are marital property subject to equitable division.
I’m sure I cured a lot of people’s insomnia yesterday with my big post on Reserve Military Component retirement. Just in case there’s still a few of you with insomnia, I’ll post another short one at bedtime here in Sunny Colorado.… Read the rest
In Divorce, potential tax liability can frequently become the tool for one spouse to use against the other spouse. If improperly used, this tool can destroy all of the marital assets. In the worst case, tax liability can seriously impact the future financial security of either spouse and subject them to criminal sanctions.… Read the rest
Why Do I Care About The SF 50?
The SF 50 is the official form the government uses to determine an employee’s retirement eligibility and to calculate the employee’s retirement pension.
If there is a mistake or a typo on an SF-50, it will affect the employee’s CSRS or FERS retirement.… Read the rest