There are over 175,000 pension and retirement plans in the United States created and governed by the laws, rules and regulations of Federal, State, County or Municipal governments, or by International organizations like the World Bank, the International Monetary Fund and the United Nations.

 

US Federal laws govern Military retirement, the Federal Employees Retirement System (“FERS”), the Civil Service Retirement System (“CSRS”), Foreign Service Pension System (“FSPS”), Foreign Service Retirement and Disability System (“FSRDS”), Commissioned Corp of the Public Health Service (“PHS”), Commissioned Corp of the National Oceanic and Atmospheric Administration (“NOAA”), Fannie Mae and Freddie Mac, the Federal Thrift Savings Plans (“TSP”), and more.  

 

Pension and retirement benefits acquired during the marriage are classified as “marital property” under Maryland law and can be allocated between the parties by agreement of the parties or by the Court.  In order to transfer account balances and/or pension and survivor annuity benefits from one party to the other, it is necessary for the Court to enter an Order at the time of entry of the Judgment of Absolute Divorce and for a certified copy to be furnished to the Plan Administrator. 

 

These Orders have different names including - Qualified Domestic Relations Order (“QDRO”), Eligible Domestic Relations Order (“EDRO”), Retirement Benefits Court Order (“RBCO”), Court Order Acceptable for Processing”, (“COAP”) or, in the case of the Military, the Commissioned Corps of the Public Health Service (PHS) and the Commissioned Corps of National Oceanic and Atmospheric Administration (NOAA), a Military Retired Pay Division Order (“MRPDO”).  

 

Plan Administrators who operate under Federal, State, County or Municipal law creating their plans are required by law to comply with these Orders.  International plans are not required to comply with such Orders, but do so as a matter of courtesy so long as the Order complies with their often unique rules and regulations.  

 

There are also a great number of what are known as “non-qualified” Plans where Plan Administrators are not required, and generally refuse, to comply with a Court Orders similar to those mentioned above, for example, incentive and non-qualified stock option plans, most deferred compensation plans, Stock Appreciation Rights plans (“SARS”), Restricted Stock Unit plans (“RSU”), Long Term Incentive Compensation Plans (“LTIP”), Golden Parachute” Plans, and many more.  

 

Mr. Goldberg has been a member of the Maryland Bar since 1967 and has been preparing pension and retirement Orders since 1986. He has been a regular presenter or faculty member for seminars dealing with pension and retirement benefits in divorce - for the Maryland Institute for the Continuing Education of Lawyers (“MICPEL”), for the Maryland State Bar Association (“MSBA”), and for the Bar Association of Montgomery County.  He has written extensively on the topic including a 1,000+ page book of “QDRO Monographs” that he makes available at no charge to members of the Bar and the Bench. 

 

Mr. Goldberg has qualified many times as an expert witness with respect to pension and retirement issues in many trials before Montgomery County Circuit Court Judges and Magistrates and he has regularly been employed by members of the Bar for expert advice with regard to such issues.       

 

Contact Mr. Goldberg if you are interested in his services in this area of law.

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