The New NYC Police Pension Rules & Avoiding Top Settlement Mistakes

12:00 p.m. – 12:10 p.m.

Welcome and Introductions

Moderator: Christopher J. Chimeri, Esq., Qualtela Chimeri, P.C., Hauppauge, NY

12:10 pm – 1:50 pm

Part I: How Dealing with Retirement Assets has been Oversimplified, Where The Process Breaks Down and Spills over into Faulty Settlements

1. How to do it right:

2. Do Your Due Diligence

3. Gain an Understanding of the Basic Retirement Asset Categories and What Gets and Does Not Get Divided by a QDRO or QDRO-like Instrument;

a. An Overview and Key Differences Between Defined Benefit - and Defined Contribution Plans

b. Individual Retirement Accounts (IRAs); Do IRAs Need a QDRO? Steps to Correctly Transfer IRAs.

Speaker: Denisa Tova, MBA, CFP, CDFA, CQS, Certified QDRO & Retirement Valuation Specialist, Tova QDRO & Retirement Valuation Consultants, LLC, Plainview, NY

Part II: Top Issues in Settlements and how to Correctly Address Them

1. Survivorship:

a. A Critical Distinctions in Survivorship Between ERISA and Non-ERISA Plans;

b. Separate Interest v. Shared Interest Options

c. How to Correctly Secure Survivorship Rights in Settlements

2. Top Valuation Pitfalls:

a. How the Recent Rules of the NYC Police Pension Plan Impact Valuations (slide 47-55)

b. When to Use and When NOT to Use the “Majauskas” (slide 56-59)

3. Settlement Language Traps:

a. Frequent Mistakes with “Equalizations” that Cause Delays, Additional Fees and Misallocation of the Marital Share

b. The Damaging Impact of the Faulty Assumptions for the Retirement Asset Transfer Dates in Settlements.

Speaker: Denisa Tova, MBA, CFP, CDFA, CQS, Certified QDRO & Retirement Valuation Specialist, Tova QDRO & Retirement Valuation Consultants, LLC, Plainview, NY

Part III: Resources: Case Law and Checklists

Speaker: Denisa Tova, MBA, CFP, CDFA, CQS, Certified QDRO & Retirement Valuation Specialist, Tova QDRO & Retirement Valuation Consultants, LLC, Plainview, NY

(2.0 Areas of Professional Practice)

1:50 pm – 2:00 pm

Questions and Answers