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DB Pensions

MAJUASKAS V. MAJUASKAS 474 N.Y.S.2d 699 (Court of Appeals of New York, 1984) A vested pension is marital property subject to equitable distribution. The time of marital service is service during the marriage up to the time of filing of a matrimonial action. In valuing the pension, the current benefit as of the time of equitable distribution is used, even if this is after the divorce. In computing the coverture fraction, the numerator is time of marital service.


OLIVO V. OLIVO 604 N.Y.S.2d 23 (Court of Appeals of New York, 1993) When an early retirement incentive package is given after the divorce, the Social Security bridge payments not part of the pension are not marital property, but the enhancement to the pension is marital (in this case, a subsidized early retirement reduction).

MCDERMOTT V. MCDERMOTT 474 N.Y.S.2d 221 (Supreme Court, Richmond County, 1984) Husband was required to select retirement plan option which will provide wife with income both before and after husband's death.

VON BUREN V. VON BUREN 1998 N.Y. App. Div. (Supreme Court of New York) Under a New York State and Local Retirement System non-qualified domestic relations order, the Participant does not have to name the Alternate Payee as a death beneficiary, if this is not agreed to in the property settlement agreement.

BOTTARI V. BOTTARI 666 N.Y.S 2d 742 (Supreme Court of New York) The Court upheld Olivo, in that an Alternate Payee will share in an early retirement subsidy. Specifically, the Court upheld a QDRO allowing the Alternate Payee's benefit to be recalculated in order to share in an early retirement subsidy taken by the Participant.

DOLAN V. DOLAN 78 N.Y.2d 463 (Court of Appeals of the State of New York,  1991) When an employee receives a disability pension, the component of the pension that is purely due to disability is not marital property. Only the component that is the ordinary retirement pension is marital property.

 

To learn more about pensions in divorce, consult our explanation here.