Ex wants to buy me out of his pension

iVillage Member
Registered: 11-28-1999
Ex wants to buy me out of his pension
4
Wed, 08-13-2008 - 11:49am

Not that I don't have enough to do w/ getting D from H #2.


The other night, I was talking to my ex (we have been div for about 12 yrs) and he said that he wanted to find out if he could buy out my right to his pension from the Post Office.

iVillage Member
Registered: 03-19-2003
Wed, 08-13-2008 - 12:03pm
I'd consult with a tax attorney about it, but I'd think that in order to not be penalized on your part (with taxes) that you'd have to put it into some type of retirement account in your name.

Karen ~ wildlucky4me ~

iVillage Member
Registered: 11-28-1999
Wed, 08-13-2008 - 2:12pm

It's not like a 401(k) where there is a dollar amount that you can figure out at the time of div and do a QDRO.

iVillage Member
Registered: 03-11-2008
Wed, 08-13-2008 - 2:35pm

You are correct about paying taxes on your share of the pension, along with possibly a penalty unless you roll it over into a regular IRA.

iVillage Member
Registered: 03-30-2008
Wed, 08-13-2008 - 10:14pm

Man, someone wants to keep your plate full, huh Music? :)