Step 1: Determine the Type of Benefit

• Defined Benefit Plan: This type of plan provides a guaranteed benefit amount based on a formula that takes into account the employee’s salary and years of service.

• Defined Contribution Plan: This type of plan provides a benefit amount based on the employee’s contributions to the plan and the investment earnings on those contributions.

Step 2: Gather the Required Information

• Pension plan documents: Obtain a copy of the pension plan documents, including the plan summary, plan agreement, and any amendments.

• Employee’s benefit statement: Obtain a copy of the employee’s benefit statement, which shows the employee’s accrued benefit amount.

• Divorce decree or agreement: Obtain a copy of the divorce decree or agreement, which outlines the terms of the divorce, including the division of assets and benefits.

• Social Security number or tax identification number: You will need to provide your Social Security number or tax identification number to verify your identity.

Step 3: Calculate the Benefit Amount

• Determine the employee’s accrued benefit amount: Use the employee’s benefit statement to determine the accrued benefit amount.

• Apply the marital share percentage: Apply the marital share percentage, as outlined in the divorce decree or agreement, to the accrued benefit amount.

• Calculate the benefit amount: Calculate the benefit amount by multiplying the accrued benefit amount by the marital share percentage.

Example

• Calculating divorced spouse benefits can be a complex process, but by following the steps outlined above, you can ensure that you receive the correct amount of money. Remember to gather all required information, determine the type of benefit, and apply the marital share percentage to calculate the benefit amount. If you are unsure about any part of the process, consider consulting with a financial advisor or attorney.