What is a Defined Contribution Plan and how does it contrast to a Defined Benefit Plan?

Our professionals at Iwanyshyn and Associates can describe the differences in detail; yet for brevity, here is a simple distinction. Defined Benefits plans are typically offered by employers at no direct cost or contribution by you; whereas Defined Contribution plans require you to “put skin in the game.”

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Knowing the difference between these plans, and how to value them for the purposes of creating an equitable distribution of your estate is important. We at Iwanyshyn & Associates excel at assisting you to understand your financial alternatives. Our experts help you understand the rules, limitations and establish current value or values for your pensions. Further, we help you learn what your options are for distribution or payout (e.g. lump sum? Limited payout over a few years? Lifetime annuity?).

We create financial scenarios to allow you to determine what suits you and your future needs: understanding your tolerance of risk and investment posture. We support you to find an investment professional or organization that shall help you create the best future once your marital and non-marital estate is resolved after the divorce.

In addition to our proven investigation techniques and analytics, we negotiate on your behalf at the personal level. We strive for consensus on a fair division of retirement, pension and other long term investment vehicles. After all you are going through — emotional high/low, selling belongings and furniture, breaking apart the family homestead - we do not want a financial impasse to result in the state's divorce code controlling these critical situations.

Even when/if you and your spouse were to decide to try to reconcile, there may be financial stress and areas of disagreement. We can guide you and your spouse to a new-normal and financial transparence through the exercise of creating a postnuptial agreement.