Retirement


#1

It would be only be up to the date of separation. Here’s what the law says about splitting pensions and retirements:
" (d) The award shall be determined using the proportion of time the marriage existed (up to the date of separation of the parties), simultaneously with the employment which earned the vested and nonvested pension, retirement, or deferred compensation benefit, to the total amount of time of employment. The award shall be based on the vested and nonvested accrued benefit, as provided by the plan or fund, calculated as of the date of separation, and shall not include contributions, years of service, or compensation which may accrue after the date of separation. The award shall include gains and losses on the prorated portion of the benefit vested at the date of separation."

I would say that it depends on if his retirement benefits are worth more that the house…Her lawyer is trying to get the house for her and in return they are negotiating. If he takes this deal and pays her 1/2 his retirement it would only be up to the date of separation and she would owe him 1/2 the home equity. He needs to make sure that it is all in writing that he can understand, and he really should pay to have an attorney look over and explain any paper work just to protect himself.


#2

My brother works for the State of NC. He has been separated for 2+ years…his wife has been in the house all this time with no house payment while he has been renting. He is paying child support and has health insurance for her AND all 3 children. (out of the goodness of his heart since she has health problems.) He has retirement and she is asking for the house in order to leave his retirement alone. He had only worked for the State for 4 years at the time they separated. Her lawyer is saying that if he gives her the house, she will leave his retiement alone. There is some law that she can get this retiement years into the future instead of him paying her for 1/2 of what was in it when they legally separated. Can anyone provide info on how this works with the retirement? He has exhausted his money for a lawyer and needs all the help he can get. Thanks…