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Closer look at In Re Marriage of Zamudio and the impact on early retirement subsidies in Illinois Public Retirement Plans Understanding Purchased Service Credit and the Division of Early Retirement SubsidyWhen navigating the complexities of pension plans, particularly during divorce or separation, two significant concepts often arise: purchased service credit and [...]

Marital Property in Illinois Public Pension Plans (PART II): Actuarial Valuation, QILDROs and the QILDRO Discount Part II of my article discusses the difference in the actuarial valuation of the marital estate if “horse-trading” marital assets versus the actuarial value of the marital estate if divided by Qualified Illinois Domestic Relations [...]

Marital Property in Illinois Public Pension Plans (PART I):Actuarial Valuation, QILDROs and the QILDRO Discount This article discusses the difference in the actuarial valuation of the marital estate if “horse-trading” marital assets versus the actuarial value of the marital estate if divided by Qualified Illinois Domestic Relations Order (“QILDRO”).A brief [...]

Actuarial Standards of Practice (ASOPs) are guidelines established by the Actuarial Standards Board (ASB) for valuation experts to follow when performing professional services.  ASOP No. 34 pertains to the selection and use of economic assumptions for pension valuations in domestic relations matters. Actuarial valuation and life expectancy are related, but they refer to different things. [...]

How to correctly value the community property interest in a public retirement plan such as the Public Employees Retirement Association of New Mexico Often clients wish to consider offsetting the community property interest in a PERA pension against another marital asset such as the equity in a [...]

It's a simple 401(k) QDRO, what could go wrong? Although a qualified defined contribution plan QDRO is generally less complicated than a defined benefit plan QDRO, there are still areas which should not be overlooked if you are preparing your own QDRO or outsourcing to your preferred QDRO provider. The [...]

How to Correctly Value the Community Property Interest In a Public Retirement Plan Often clients wish to consider offsetting the community property interest in a Santa Barbara County Employees Retirement System (“SBCERS”), CalPERS or CalSTRS pension against another marital asset such as the equity in a home or former spouse’s 401(k) [...]