§ 22658 Nonmember Spouse Separate Accounts

Key Takeaways

•If a couple splits up, the money saved for retirement from work gets split into two separate piles—one for each person.
•The ex-spouse’s pile of retirement money stays completely separate and cannot be mixed with their own work retirement money.
•Even if the ex-spouse gets a new job and starts saving more retirement money, the old split pile stays its own thing and doesn’t mix with the new job’s retirement money.

Example

John and Lisa get divorced. The court says Lisa gets part of John’s retirement savings from his job.

Lisa’s share goes into her own separate account. She can’t mix it with her own retirement savings from her job, and if she changes jobs later, that new retirement money stays separate too.

(a) A separate account awarded to a nonmember spouse pursuant to Section 22652 shall be administered independently of the member’s account. (b) An accumulated Defined Benefit Supplement account balance, accumulated retirement contributions, service credit, and final compensation attributable to a separate account of a nonmember spouse under this part shall not be combined in any way or for any purpose with the accumulated Defined Benefit Supplement account balance, accumulated retirement contributions, service credit, and final compensation of any other separate account of the nonmember spouse. (c) An accumulated Defined Benefit Supplement account balance, accumulated retirement contributions, service credit, and final compensation attributable to the separate account of a nonmember spouse shall not be combined in any way or for any purpose with the accumulated Defined Benefit Supplement account balance, accumulated retirement contributions, service credit, and final compensation of an account that exists under this part because the nonmember spouse is employed or has been employed to perform creditable service subject to coverage under the Defined Benefit Program or the Defined Benefit Supplement Program. (Amended by Stats. 2000, Ch. 74, Sec. 37. Effective January 1, 2001.)

Key Takeaways

•If a couple splits up, the money saved for retirement from work gets split into two separate piles—one for each person.
•The ex-spouse’s pile of retirement money stays completely separate and cannot be mixed with their own work retirement money.
•Even if the ex-spouse gets a new job and starts saving more retirement money, the old split pile stays its own thing and doesn’t mix with the new job’s retirement money.

Example

John and Lisa get divorced. The court says Lisa gets part of John’s retirement savings from his job.

Lisa’s share goes into her own separate account. She can’t mix it with her own retirement savings from her job, and if she changes jobs later, that new retirement money stays separate too.

Key Takeaways

Example

Key Terms

References

§ 22658 Nonmember Spouse Separate Accounts

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References