I am getting a divorce and have $250,000 in pension fund and I have to give my wife half of my pension, I am 100% vested, when will she be able to receive her half of the pension.
Typically when getting divorced the divorce decree will state how much and if any money is to be distributed to each party. Also most pension/401k participants must file a QDRO (Qualified Domestic Relations Order) to process the splitting or distribution of any money in a retirement plan. This order will state the timing, how much, and how the distribution is to be processed. it always best to consult your attorney and a representative from the pension plan for the most accurate advice.
This is a hard question because it depends on your plan as well as the law in your state. Some QDRO plans give you the ability to touch the money that is legally yours one time without tax consequences; however, if you should need more money later -- that will be taxed at ordinary income as well as a 10% penalty if you're below the age of 59 and a half. I had a client who needed some of her QDRO to live on, but wanted to keep the rest for retirement. If this is your case, you'll probably want to sit down with a licensed representative that can create a program for you to help you keep as much money invested as possible, but also provide you with some immediate cash flow.
Feel free to write me an email if you have any additional questions.