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Posts tagged "retirement benefits"

Typical Massachusetts Military Retirement Plans

Military marriages in Massachusetts experience strains and stresses in greaterMilitary Marching.jpg capacity than other marriages due to the complications that their jobs put on both spouses. Though these marriages can be extremely stressful and difficult, the overall divorce rate among both male and female service members only averaged 3 percent in 2017. To be more precise, about 21,290 of 689,060 married troops divorced in 2017. The divorce process for members of the military is relatively uniform to those who are not in the service. The main difference for these individuals is how to divide their retirement plans. 

Avoid These Costly Mistakes When Dividing an IRA During a Massachusetts Divorce

Massachusetts divorces are often messy, but recent cases in the tax court remindDividing Retirement Accounts.jpg us that that there are only two ways to make a tax-free transfer of IRA assets in a divorce proceeding.

Key Points of the New Military Blended Retirement System

The new Blended Retirement System (BRS) created under the 2016 NationThrift Savings Plan.jpg Defense Authorization Act is a retirement system that blends the traditional legacy retirement pension with a defined contribution to Service members' Thrift Savings Plan account. This new Blended Retirement System goes into effect on January 1, 2018. 

An Overview of Military Disability Pay in Massachusetts

How would you describe your Massachusetts marriage? If you are currently considering a Massachusetts military divorce, Military boots.jpgyou might say "it's complicated." When one spouse is receiving military disability pay, you might think this makes the divorce process complicated as well. It can be difficult to understand how military disability pay factors into your divorce. However, by obtaining basic information about the division of disability pay, you may be able to eliminate the phrase "it's complicated" from your divorce vocabulary.

Alimony: Exceptions to Durational Limits in Massachusetts

The Massachusetts alimony reform statute states that "alimony awards whichMoney Fight 1.jpg exceed the durational limits established shall be modified upon a complaint for modification without additional material change of circumstance, unless the court finds that deviation from the durational limits is warranted." The court must then look to whether deviation is "required in the interests of justice."

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