NJSBA Family Law Section

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Alimony Obligation/Minimal Life Insurance

  • 1.  Alimony Obligation/Minimal Life Insurance

    Posted 10-13-2014 03:49 PM
    I am new to the Family Law Section but have been practicing in the area of employee benefits and ERISA for 29 years.

    I agree with Melissa's response.  The Internal Revenue Code prohibits a direct assisgnment of a benefit from a qualified retirement plan, but naming the former spouse as a beneficiary is permitted.  The beneficiary designation should allow either a specific dollar amount or percentage of the participant's account.

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    Barbara Murray Esq.
    Florham Park NJ
    (973) 822-0220
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