If you're getting divorced in California and you think dividing a pension is just "give or take half, and we're done" — that mindset is what usually ends up costing you real money down the road.

Of course, the formulas for splitting retirement benefits matters, but it's not the biggest risk. The biggest risk is what happens to that pension the day the retiree dies, which isn't always top of mind in the divorce process.

In part 2 of our California Divorce mini-series, I'm walking you through generally how pensions are looked at in California divorces, how benefits are generally calculated and determined, what determines how long those payments actually last, and the survivor benefit traps that haunt people who thought they'd already handled everything correctly.

More specifically, Cameron discusses:

• Pensions and defining community property vs. separate property
• Length of marriage and Date of Separation
• The "Time Rule" / "Brown" formulas for dividing a pension stream in CA
• The 10-year myth
• Offsetting assets in divorce negotiations
• How long might you expect to receive pension payments?
• What can cause pension payments to cease?
• Pension survivor benefit pitfalls in common CA public pensions (SBCERA, CalPERS, CalSTRS)

Resources From The Episode:

• Retired-ish Newsletter Sign-Up
• Get a Complimentary Copy of Cameron's Book for Divorcées and Widows: Finding Financial Clarity and Confidence When Starting Over
• Ask a Question
• Get Show Notes Here

Key moments:

(00:00) Basics of Pension Division in California

(03:00) Community Property and Pension Complexity

(08:26) Calculating Benefits and the Time Rule/Brown Formula

(16:10) Duration of Benefits and Survivor Risks

(23:00) System-Specific Pitfalls: CalPERS, CalSTRS, SBCERA

(29:57) Strategic Planning and Final Thoughts