Opinion ID: 2306415
Heading Depth: 2
Heading Rank: 1

Heading: The buy-out agreement

Text: [¶ 4] In 2002, Sharon and John entered into a buy-out agreement by which Sharon relinquished her shares of stock in the parties' corporations and released any claims she had against John and the corporations. The agreement specifically provided that John shall continue to be obligated to pay to Sharon one-half of his pension, including survivor benefits, through the Maine State Retirement System, as he is paying to her at present. [¶ 5] John died in a plane crash in May 2003. Soon thereafter, the MSRS stopped paying benefits to Sharon and began paying benefits to Joanne. Under the Special Plan option elected by John when he retired, upon his death benefits could only thereafter be paid to his surviving spouse. See 5 M.R.S. § 17852(5)(B). Pursuant to the second paragraph of 5 M.R.S. § 17852(5)(B), [5] if a member is divorced, the term surviving spouse' ... means the person legally married to the officer at the time of the officer's death. At the time of his death, Joanne was legally married to John.