Legal Question in Family Law in New Hampshire
In a recent divorce, my ex-wife was granted a portion of my city retirement. The city of Manchester,NH has informed me that I have no access to that money until I am 62 yrs of age. I am now 45 yrs old. The marital Master ruled that I HAVE to some how find a way to get the ex-wife her percentage. I tried to get a loan on that money and discovered that I am unable to do that. I was married for 7 yrs, the retirement accrued for 20 yrs. Is there a legal procedure I can do to force the city to pay me the retirement? My ex-wife has filed another contempt motion on me for not giving her, her percentage. The retirement total is $32,000.
Thank You for your time.
Sincerely,
John Puglisi
1 Answer from Attorneys
Contact the City HR department. They have a set of forms which need to be completed in accordance with the terms of your divorce decree. Generally, they apportion her share of the pension into a separate account. However, her access to the funds is restricted to the terms of the pension plan and applicable Federal and State law. Based upon the amount you specified, I am assuming this is a cash balance plan and not a pension plan. The portion to which she is entitled is subject to a formula, which you should have been referenced in your divorce decree.
As always, it would be a good idea to consult with an attorney or financial professional to assist you with compliance requirements.
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