Some FAQs About The BRS And Your Florida Divorce

Beginning January 1, 2018, the U.S. military dramatically changed its retirement system. Instead of a basic defined benefit plan, the new Blended Retirement System has the features of both a pension plan and a 401(k)-type defined contribution plan. Furthermore, after just twelve years of service, servicemembers become eligible for continuation pay. This one-time bonus could be quite substantial. The big tradeoff is that the pension portion of the military retirement plan will no longer be as large. Furthermore, military retirement is much more vulnerable to market forces. The Clearwater area has a lot of military retirees. Some were stationed here and some retired here. Based on the answers to the questions below, it might be a good idea to modify your existing divorce decree or other property division documents. Can the QDRO Distribute Continuation Pay? Technically speaking, probably not. A Qualified Domestic Relations Order can only divide a retirement account. Traditionally,…

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