NCJ Number
130569
Journal
Juvenile and Family Court Journal Volume: 42 Issue: 2 Dated: (1991) Pages: 39-52
Date Published
1991
Length
14 pages
Annotation
Based largely on New Jersey statutes, this article discusses the equitable distribution of pensions and retirement benefits during a divorce.
Abstract
Each State has adopted some form of asset sharing or division. In most instances, the courts engage in a 3-step process which involves identification, valuation, and distribution of assets. Income tax considerations enter in the final phase. Federal law, including the Retirement Equity Act and the Internal Revenue Code, govern the distribution of Individual Retirement Accounts (IRAs) and other types of employee benefit plans. When distributing pensions, a judge must consider present value, income taxes, and methods of distribution. Contingent events and pre-retirement or post-retirement death must also be considered by the court. 1 appendix