Retirement savings that have accrued during the marriage are marital assets, and they will be subject to equitable distribution with your spouse.
How this is handled will vary based on the type of retirement savings or investments in play.
A 401(k) plan will be handled differently than accounts like IRAs, while pension plans have their own set of issues to be dealt with.
If your work history is more robust than your spouse’s and you’ve been married for more than ten years, your spouse will also have the option of drawing Social Security based on your earnings if they haven’t remarried by retirement age.
This won’t affect how much you receive, but is an important consideration when the financial details of your divorce are being worked out.
The attorneys at Zelenitz, Shapiro & D’Agostino can help ensure that you are protected in retirement after your divorce.
If you have questions regarding your retirement savings during your divorce, call us today at 718-725-9601 for a free consultation with an experienced Brooklyn divorce attorney.