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The Uniformed Services Former Spouses' Protection Act (or USFSPA) is a U.S. federal law enacted on September 8, 1982 to address issues that arise when a member of the military divorces, and primarily concerns jointly-earned marital property consisting of benefits earned during marriage and while one of the spouses (or both) is a military service member. [3]
Military retirement in the United States is a system of benefits designed to improve the quality and retention of personnel recruited to and retained within the United States military. These benefits are technically not a veterans pension , but a retainer payment, as retired service members are eligible to be reactivated.
The court agreed with the ex-husband that his military pension could not be considered "directly or indirectly" in the distribution of the marital property.” "[***7] [**565] In McCarty, the Supreme Court clearly held [*500] that a retirement pension could not be distributed as a marital asset.
Military veterans in Arizona, Utah, Indiana, Nebraska and North Carolina no longer have to pay income tax on their military retirement benefits, joining a number of other states in not taxing ...
How Does Military Retirement Work? Military personnel can choose between a pension and a Thrift Savings Plan, or TSP, which functions similarly to a 401(k). The pension plan is a defined benefit ...
Serving in the U.S. military can be both exhilarating and terrifying for military families, particularly if their loved one is sent to an area of combat or into other dangerous situations. While ...
A veteran's pension or "wartime pension" is a pension for veterans of the United States Armed Forces, who served in the military but did not qualify for military retirement pay from the Armed Forces. It was established by the United States Congress and given to veterans who meet the eligibility requirements. Along with payments, they are also ...
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...