APV (Actuarial Present Value) of Benefits Accrued During Marriage

Often pensions are the largest marital asset. And if the parties’ retirement values are disparate, the difference in value needs to be estimated. If offsets are being considered with other marital assets, actuarial values of the marital pensions are needed.

Actuarial Concepts provides individual participant pension benefit valuations for Family Law attorneys (the attorney would be our client, not the party to the divorce proceeding) in dissolution of marriage actions. Since 1989, we have assisted Family Law attorneys in estimating the current actuarial value of pension marital interests.

For defined benefit pensions, actuarial valuation refers to the determination of a current lump sum value of a future stream of payments, such as an annuity or pension benefit payable over a person’s lifetime. Our standard fee for valuation of pensions is $475.

For 401(k) plans, valuation refers to calculating the premarital and marital portions of a defined contribution retirement account as of a date certain, such as the filing of the petition for dissolution.

Our standard fee for preparation of a retirement valuation of marital interest is $475.

Note, however, that additional time incurred by us (e.g., obtaining the required information from other sources, telephone consultations with you and your client) will be billed at our regular hourly rates as follows:

Actuarialconcepts

Richard Tierney

Actuarialconcepts

Michael J. Tierney

The fee for our services should be mailed when the Information Checklist we send you to complete is returned to us. We prefer that the information be emailed when possible. We strongly recommend that you collect the fee in advance from your client.

Michael J. Tierney

A consulting actuary specializing in pensions and other employee benefits. He serves as an advisor to management in both the public and private sectors, and supervises a staff with actuarial, technical compliance, communication and computer expertise that assists in the design, pricing and administration of employee benefit plans.

Acturial Accreditations

Associate in the Society of Actuaries Mr. Tierney studied for and took actuarial exams sponsored by the Society of Actuaries. He successfully completed the required examinations to become an Associate in the Society of Actuaries in 1967.

Member, American Academy of Actuaries Membership in the American Academy of Actuaries requires three years' experience in responsible actuarial work, as well as passing the required exams. Mr. Tierney was accepted as a member in 1976.

Enrolled Actuary (IRS) Mr. Tierney was licensed to practice actuarial science in dealings with the Internal Revenue Service by the Joint Board for the Enrollment of Actuaries, becoming an Enrolled Actuary in 1976.

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