Divorce in California Part 1: Understanding Pension Benefits

You can win the house. You can win the car. But if you walk away from your divorce without the right paperwork on a retirement pension, you can lose a seven-figure asset – that's right, 7-figure asset - without ever knowing it happened — sometimes not until decades later, when your ex-spouse retires, remarries, or passes away, and suddenly there's nothing left to claim. In part one of this California divorce miniseries, we're breaking down exactly how pension division works in a divorce — the forms, the deadlines, the acronyms nobody explains to you, and the mistakes that quietly cost people their fair share. More specifically, Cameron discusses: The ATRO – Automatic Temporary Restraining Order Joinders for some retirement pension systems The difference between a Domestic Relations Order (DRO) vs a Qualified Domestic Relations Order (QDRO) Key differences between public pensions (i.e., CalPERS/STRS, SBCERA, OCERA, LACERA, etc.), federal pensions (FERS/CSRS), and private sector pensions Costly mistakes made with pensions throughout the divorce process The various costs you may incur to split a retirement pension in divorce Who to talk to and when during the divorce process about your retirement pension   Key moments: (03:25) Understanding ATROs and Filing (08:22) Joinders and Differences in Pensions (12:06) QDROs and DROs Explained (16:16) Federal Plans and Common Errors (22:46) Costs and Fees Involved With Pension Division (26:07) Building Your Professional Divorce Team   Resources: Retired-ish Newsletter Sign-Up Ask a Question Get Show Notes Here