Schedule of Fees for Services:
These services are also available to individuals acting Pro Se (representing themselves) for an additional $200 above the minimum fee.
Marital Value of Defined Benefit Plans
Complete Defined Benefit Valuation (includes full independent discovery and a report). Click here to view a sample report. | minimum $500.00 |
Additional Calculation (same person, same plan, different valuation date or retirement date) | $300.00 |
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Marital Value of Defined Contribution Plans
Types of defined contribution plans include Savings Plans, 401(k) Plans, 403(b) Plans,
Profit Sharing Plans, 457 Deferred Compensation Plans, Keoghs,
IRAs.
For the Subtraction Method OR Coverture Fraction Method | $200.00 |
Generally, there are three methods commonly used to achieve the goal of determining that portion of a participant’s defined contribution plan account that accumulated during the parties’
marriage namely: the Subtraction Method; the Coverture Method; or the Tracing/Segregation Method.
Using the Subtraction Method, the account balance as of the Date of
Marriage is subtracted from the account balance as of the Valuation Date. The difference in the balances is the portion of the account that accumulated during the
marriage. Using a Coverture FractionMethod, the account balance as of the Valuation Date is multiplied by a Coverture Fraction in order to determine the marital portion. The numerator of this fraction is the total number of years in the plan while married and the denominator of this fraction is the total number of credited years in the plan, up to the date of the action for
divorce. Both of these methods may be inaccurate when being used for
equitable distribution purposes. The Subtraction Method may be inaccurate because it fails to attribute the investment earnings or losses on the pre-marital balance to the pre-marital portion. The Coverture Fraction Method may be inaccurate because the coverture fraction is determined by years of
marriage and service, not the rate of contribution or earnings. If the participant had been employed for a longer or shorter period of time, it would affect the coverture fraction, having no direct
relationship to the actual amounts accumulated during the
marriage. Unfortunately, if complete records are not available, either of these two methods may be the only viable alternative. Generally, based upon the information provided by Plans, the Subtraction Method is the methodology used in our reports
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For the Tracing/Segregation Method | minimum $600.00 |
Utilizing the Tracing Method is without a doubt, the most accurate method to determine the marital and non-marital portions of defined contribution plan accounts. This method examines the actual investment experience of the account during the whole marital period. Any earnings or losses are determined on a proportionate basis from quarter to quarter, or year to year, depending upon the documentation provided. Also, any loans or distributions which were made during the marital period can be properly accounted for. However, due to change in recordkeepers, it has become more and more difficult to obtain the account statements covering the marital period which are necessary to conduct a Tracing Method. Click here to see an example of this method.
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Offset Calculations minimum $250.00
When determining the division of marital assets, the value of the assets of each party must be established, then divided or offset against one another. Often, when dividing a defined benefit plan, the spouse may be entitled to a reduced portion of the benefit after the offset.Click here to see an example of this method.
Social Security Offset $300.00
Same Day RUSH Service This fee is in addition to the report fee and based upon complete documentation provided by the client. | $100.00 |
Review/Critique of Opposing Expert’s Valuation Oral Report Written Report | $250.00 $450.00 |
Qualified Domestic Relations Orders (QDROs)
One QDRO, One Plan | $500.00 |
Fee includes a) the preparation of an Order that conforms to the parties’ Agreement; b) submission of the draft Order to the appropriate pension plan for pre-approval (except for those plans that do not pre-approve i.e. Federal government plans; United States Military) and c) a finalized Order accompanied by plan approval (if applicable) for submission to court for certification.
Review/Critique of Opposing Expert’s QDRO Oral Report Written Report | $250.00 $450.00 |
Other General Fees
Fees Imposed by Companies/Plans
Increasingly, retirement plans are charging researching and/or copying fees for providing retirement plan information, as well as, fees for reviewing proposed Domestic Relations Orders. These charges will be included in our invoice.
Discovery Services Only This fee includes contacting employers and/or retirement plans and providing retaining party with copies of documentation received. This service is performed for benefit verification only. No analysis or calculations are conducted. | $200.00 Per Plan/Employer |
Expert Testimony Reservation Fee Testimony Fee (per Court Appearance) Total Minimum Cost Per Court Appearance: | $300.00 $1,750.00 $2,000.00 |
I.B.E.W. Local #3 Joint Industry Board of the Electrical IndustryAny and all retirement plans that a member of I.B.E.W. Local Union #3 may participate in and be eligible to receive benefits from are as follows: |
Defined Benefit Plan sponsored by Local #3 | | | |
Pension Trust Fund of the Pension, Hospitalization and Benefit Plan of the Electrical Industry | $500.00 | |
Defined Contribution Plans sponsored by Local Union #3: | All 4 Plans $400.00 | |
1) Annuity Plan of the Electrical Industry 2) Additional Security Benefits Fund (ASBF) – terminated in 2005 3) Deferred Salary Plan (DSP) 4) Health Reimbursement Account Plan (HRA) – plan eff.date 2005 | | |
National Defined Benefit Plans: | | |
National Electrical Benefit Fund (NEBF) | $300.00 | |
International Brotherhood of the Electrical Workers’ (IBEW) Pension Benefit Fund | $300.00 | |
Total for All Electrical Plans | $1,500.00 |
