Retirement accounts-Forfeitures and income.loss

[chitown]

What is the name of your state? FL

Retirement plans whether vested or not are included from both parties in a valuation of marital assets. In my case, the date of valuation for retirement accounts was 9-28-04. Ex was terminated from her position on 9-30-04. Accordingly, the non-vested portion of the employER made contributions are forfeited i.e. she will never receive. Are these included in the 9-28-04 value then?

Additionallly, retirement plans invested in mutual funds typically receive a quarterly statement showing among other things, income/loss apportioned to the mutual fund account in the account. Some funds allow you to select the value of your mutual fund on a given day. Accordingly, does the value of the fund on September 28 include gains/losses incurred on the funds or are they not posted to the account until the end of the quarter?

Thanks in advance

 

[LdiJ]

What is the name of your state? FL

Retirement plans whether vested or not are included from both parties in a valuation of marital assets. In my case, the date of valuation for retirement accounts was 9-28-04. Ex was terminated from her position on 9-30-04. Accordingly, the non-vested portion of the employER made contributions are forfeited i.e. she will never receive. Are these included in the 9-28-04 value then?

No, you can't divide what doesn't exist. Its even questionable whether or not non-vested portions can be included at all. If they are soon to be vested its very different than if vesting is a distant future event.

Additionallly, retirement plans invested in mutual funds typically receive a quarterly statement showing among other things, income/loss apportioned to the mutual fund account in the account. Some funds allow you to select the value of your mutual fund on a given day. Accordingly, does the value of the fund on September 28 include gains/losses incurred on the funds or are they not posted to the account until the end of the quarter?

Thanks in advance

As far as I know, gains/losses are posted daily. Therefore the plan should be able to provide you with the value of the funds as of 9/28/04. However, retirement funds are conservatively invested therefore you may be splitting hairs as the end of the quarter would be 9/30/04. There should be little appreciable difference.

 

[chitown]

No, you can't divide what doesn't exist. Its even questionable whether or not non-vested portions can be included at all. If they are soon to be vested its very different than if vesting is a distant future event.

Doesnt matter see Fla. Stat. Ann. 61.075 (3) (a) (4) Non-vested benefits are considered marital property



As far as I know, gains/losses are posted daily. Therefore the plan should be able to provide you with the value of the funds as of 9/28/04. However, retirement funds are conservatively invested therefore you may be splitting hairs as the end of the quarter would be 9/30/04. There should be little appreciable difference.

I know it would be splitting hairs for two additional days of allocable gain/loss IF gain/losses/expenses are allocated daily which I doubt due to the administration expense.

 

[LdiJ]

I know it would be splitting hairs for two additional days of allocable gain/loss IF gain/losses/expenses are allocated daily which I doubt due to the administration expense.

A mutual fund has no less responsibilty to track the accurate dates of activity than any other financial institution.

I sincerely doubt that your judge would hold your ex responsible for non-vested funds that were lost on 9/30/04.

 

[chitown]

A mutual fund has no less responsibilty to track the accurate dates of activity than any other financial institution.

Where do you bank? I have yet to find a bank that posts interest daily to an account


I sincerely doubt that your judge would hold your ex responsible for non-vested funds that were lost on 9/30/04.

He has, but I am considering being fair.

 

[LdiJ]

Interest is totally different. Its a completely different financial issue. We aren't talking about interest, we were talking about capital gains and losses.

If you want to compare it to banking, then you would compare it to money going in and out of the account.

I would hope that you would be fair.