Reply to FERS division during divorce

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It would be 1/2 of the number of years you were married. If your salaries were same for all the time you were married as a fed then it would be a wash and no need to spend time over it. [/quote]

Spouses salary is much more than mine and the number of years are more by 7-8 years. Still not worth it? [/quote]

Were you married during his extra  7-8 years? You should be entitled to half of what he earned while you were married (and he’s entitled to half of what you earned). But if he’s planning to work til 70 you may want to consider whether you’d rather just call it even/ask for a lump sum offset so you have full control of when yours starts (ie you can’t force home to retire so you can draw your portion of his pension so if you needed that to retire you might be stuck working). [/quote]

Yes, married for the entire duration. Is there a clause that can allow me to start withdrawing earlier? We are both the same age. [/quote]

You both are entitled to half of what was earned during the marriage. So one way to do that is for each of you to owe the other that fraction out of your pension. A risk doing that is that it complicates your financial planning. For example, if that means you get 25% of his pension (half of his time so far but he’s going to work a lot longer) but he doesn’t retire for 20 years then you’d have to wait that long. One the other hand, if you are entitled to half of everything up til now, but he switches to private sector immediately after the divorce, the pension will be eroded by penalties (for not reaching retirement age) and inflation reducing what you get. Both of those decisions are in his hands not yours. If things are civil I see some advantage to both of you keeping your own pensions and for him to settle the difference in value with a lump sum transfer from his TSP to yours. There’s no magic equation to set the number but once it’s done you would each control your financial planning [/quote]

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