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Alternate Payee Allocation


Irmat

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I  have been contributing to OTRS since 1989. I plan to retire in 2025. I was married from 2006 to 2014. He was awarded half of the marital portion of my retirement.

When you work out the percentage it comes out to 10%. Is this calculated on my final pension amount? Shouldn't it be calculated on a lesser amount since I've gotten several considerable raises since my divorce? 

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  • david rigby changed the title to Alternate Payee Allocation

You probably need to look to the relevant documents themselves.  If "marital portion" is not clear, perhaps you should get help with clarification.  Just my hunch: that term refers to the amount of your benefit (and/or account) at the relevant date, for example date of separation (rather than date of retirement).  BTW, we don't know exactly what you mean by OTRS.  If it refers to "Oklahoma Teachers Retirement System" (or something similar such as Oregon or Ohio), it's important to know that plans sponsored by governmental organizations might operate under their own set of rules.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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