When dividing a defined benefit pension plan, or one that provides a monthly payment, it is important to consider all options available to both parties and ensure their protection in the event the plan’s titled party dies.
- What happens if the titled spouse dies before electing the pension, and what happens if they die after electing their pension must be clarified.
- Setting up separate interest pension plans renders that a non-issue because each spouse has a separate interest in the pension, and neither’s rights will be affected by the death of the other.
- For a shared interest pension plan, it is important to ensure that the spouse who is not titled to the plan is protected by a survivor annuity and a pre-retirement survivor annuity based on the specific pension plan and what has been negotiated.
Contact experienced Attorney Jean Mahserjian in Saratoga NY for help protecting your part of a pension plan if your ex spouse dies.