Due to the presence of the railroad industry, including the headquarters of the Union Pacific Corporation in the Omaha metro community, the legal team at Koenig│Dunne has extensive experience in representing railroad employees and their spouses in the divorce process.
Selecting a divorce attorney knowledgeable in the unique aspects of a railroad divorce is critical to ensure your financial interests are protected in the divorce and for your future. Several of the unique financial issues faced by railroad employees and their spouses in a divorce are:
Division of Railroad Retirement Benefits: The retirement structure for railroad employees is unique, as rail employees do not participate in the Social Security system. Our legal team has experience in working with the Railroad Retirement Board to accurately identify and divide the divisible portion of the railroad employee’s railroad retirement benefits. We work directly with the Railroad Retirement Board to ensure proper execution and receipt of railroad retirement annuities pursuant to your divorce decree.
Divorced Spouse Annuity and Surviving Divorced Spouse Annuity: Due to the Railroad Retirement Act, a former spouse may be eligible to receive a divorced spouse annuity or surviving divorced spouse annuity, outside of the divorce proceeding. Our legal team will provide guidance and recommendations regarding your eligibility to ensure proper receipt of all possibility financial benefits available to you.
Private Pensions: Identification, valuation, and division of private railroad employee pension plans, including the Pension Plan for Salaried Employees of Union Pacific Corporation and Affiliates and the Supplemental Pension Plan for Officers and Managers of Union Pacific Corporation and Affiliates.
Thrift Plan: Identification, valuation, and division of the Union Pacific Employee 401(k) Retirement Thrift Plan.
Stock Options and Deferred Compensation: Highly compensated employees of Union Pacific may receive a variety of forms of compensation or other benefits, including stock options, restricted stock, and participate in deferred compensation plans. Due to our legal team’s experience in handling railroad divorces, we will effectively and efficiently identify and analyze these benefits, which will help control the costs of your legal fees in the divorce process.
At Koenig │Dunne, our legal team has experience and knowledge with the complexities of a railroad divorce, including advocating for many Union Pacific employees and their spouses. Contact our office to schedule a consultation to find out how our legal team can protect your financial estate and your future.
Read Angela Lennon‘s Nebraska Lawyer article, The Division of Railroad Retirement Benefits in a Divorce in Nebraska