QUESTION

My divorce document states that I will receive one-half of my ex's pension. It states that the two plans mature in 2024.

Asked on Jul 16th, 2016 on Divorce - Iowa
More details to this question:
The Benson Plan was used to determine my share which is: 73,835 of 328,140, and 61,673 of 274,000. I don't understand how this constituents equal division.
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1 ANSWER

I understand your confusion.  This calculation may be correct, depending on how long you were married and the value of the accounts prior to your marriage.  The Benson formula gives you one-half of the account for the years you were married, so if the accounts existed before you were married, you do not get half of the entire account, only what has been added/growth during marriage.     Hope this helps.     Donna R. Miller     500 E. Court Avenue, Suite 200  P.O. Box 10434  Des Moines, IA  50306  Telephone:  515-245-4300   Fax:  515-245-4452 dmiller@grefesidney.com
Answered on Jul 19th, 2016 at 7:52 AM

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