Author Topic: QDRO - NEED HELP!  (Read 1221 times)

1kickassgal

  • 5 O'Clock Shadow
  • *
  • Posts: 18
QDRO - NEED HELP!
« on: June 17, 2017, 09:05:48 PM »
My ex is retiring in January.  Per our QDRO, I will get about $30K a year from his City pension.  Can I, and how do I, shelter this from what will be a 50% tax burden?  Can it go directly into my IRA?   I need to sit with someone at the City who can answer some questions, but I'm not sure what I should be asking.  Any advice would be appreciated!   

FiguringItOut

  • Pencil Stache
  • ****
  • Posts: 812
  • Location: NYC
Re: QDRO - NEED HELP!
« Reply #1 on: June 22, 2017, 12:07:32 PM »
I would carefully reread all of your divorce agreement and paperwork.  It should state somewhere in there how QDRO should be handled.   And talk to a lawyer too.

I am waiting for my QDRO to go through as I am due a chunk of change from my ex's 401K.  But since we both are far from retiring, I will get a direct rollover to a Rollover IRA therefore preserving pretax/tax deferred status of that money.  My divorce agreement specifically states that it will be a direct rollover and not a cash payout.  I even had my equity in the house included into this amount to get that sheltered as well.  Hopefully, my QDRO will come through before the end of 2017, fingers crossed; I've been waiting for 2 years now.