Greetings!
Can anyone tell me that if a TSP (government 401k) account did not get divided (as per what usually happens when dividing property…) upon divorce, and a QDRO is issued six years later claiming 50% of one’s retirement, does that now include the TSP, which of course has grown substancially since the divorce?
Thanks for your advise!
TSP did a massive web site upgrade.
Answer here —> https://www.tsp.gov/lifeevents/spouse/separation.shtml
A valid retirement benefits court order to divide your TSP account may be issued at any stage of a divorce, annulment, or legal separation proceeding and may have the following effects on your account:
[ul]
[li]It may award to your current or former spouse, or to your dependents, a specified dollar amount — or a portion of your account — as of a specific past or current date.[/li][li]It will require the TSP to freeze your account, preventing you from taking any loans or withdrawals until the award is paid out or the order is otherwise resolved. (However, a freeze will not prevent you from making contributions or changing your contribution allocation or investment choices. Also, you will still be required to make payments on existing loans.)[/li][/ul]
There’s a PDF available from the URL.
You do know that we are putting the new cover sheets on the TSP reports, don’t you? Did you get the memo?
I’ll see to it that you get another copy.