- 7 - Marriage of Gillmore, supra at 8; In re Marriage of Brown, supra at 567. If pension benefits are distributed through periodic payments, the nonemployee spouse may be entitled to up to one- half of each payment; the allocation depends on the percentage of the employee spouse’s working years that the parties were married. In re Marriage of Gillmore, supra at 6; In re Marriage of Brown, supra at 562-563. In some situations, people may choose not to begin receiving retirement benefits when they are first eligible to do so. Postdivorce earnings are separate property, not community property. Cal. Fam. Code sec. 771 (West 2004) (earnings and accumulations of each spouse following date of separation are that spouse’s separate property). Nonetheless, in these situations under California law, a formerly married person is entitled to payments based on the amount of pension benefits to which the employee spouse would have been entitled if the employee spouse had retired when first eligible. In re Marriage 5(...continued) Petitioner’s retirement plan at issue in this case is a defined benefit plan. The record contains no evidence that petitioner, his former spouse, or the superior court sought to determine the present value of the former spouse’s interest in petitioner’s retirement plan. See Projector, “Valuation of Retirement Benefits in Marriage Dissolutions”, 50 L.A. Bar Bull. No. 6, at 229 (1975) (valuation of a defined benefit plan includes an estimate of the value of the pension measured at the future retirement date, discounting for the time value of money, mortality, and vesting) (cited in In re Marriage of Gillmore, supra at 4 n.4).Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Next
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