Pensions

In divorce, the Court is required to divide the parties’ marital property equitably. The law defines marital property as all property from any source whether titled to one party individually or to the parties jointly, no matter where the asset came from. RSA 458:16-a, I. For many years, the law with regard to pension plans was applied differently than the law with regard to other assets, and even other retirement plans. This difference was based on the Hodgins case, decided by the New Hampshire Supreme Court in 1985. Hodgins v. Hodgins, 126 N.H. 711 (1985). Before the  Hodgins case, Courts had struggled with dividing pension plans because they are difficult to value. Generally, the retiree’s benefit from a pension plan is based on a formula…