Tyler Rounds has been asked to speak to a group of law professionals in November. The topic will relate to the division of retirement assets in divorce pursuant to a qualified order. In any divorce in Idaho (or any state) there are several different retirement plans that may need to be divided and that must be valued. Dividing a retirement plan in a divorce can be complex and it is always advised to use a lawyer that understands the process to avoid costly mistakes. Generally, all retirement plans are either a defined benefit plan or a defined contribution plan.
Typically a QDRO or qualified domestic relations order is the basic instrument that needs to be prepared to divide the plan. However, other types of plans might require a different instrument. There are many different plans that might need to be divided in a divorce including some of the following: individual retirement plan (IRA) or similar defined benefit plan, public employee pension plan (such as PERSI in Idaho), federal retirement plan (usually either a FERS or CSRS plan), and military pension plans.