The difficult aspect of dividing retirement benefits is that while a value can be determined for the retirement benefits, the fact is that neither spouse is usually entitled to receive any retirement payments until a future date. Thus, if the retirement benefits are currently worth $50,000, it is not the case that each party simply receives a check for $25,000.
We can help you come up with a settlement or litigation strategy which equitably considers and divides up the marital portion of any retirement benefits you are entitled to. There are a couple of different strategies which are often employed.
If the couple has other assets comparable to the value of the retirement benefits at issue, an “offsetting award” approach can be employed. For instance, if the equity in a couple’s home and furniture is of approximately the same value as the marital portion of the pension, one spouse could be awarded the home and furnishings, and the other spouse awarded the full value of the pension.