LAGERS Pension divided as a future asset
Recent Case: LAGERS Pension present value of zero but future payment divided
Missouri Statutes require division of marital property, including local government retirement system benefits. The Circuit court treated the defined benefit pension as a future asset, requiring the beneficiary to pay the ex-spouse a fixed amount of the future payment, and assigning zero present value. Such treatment is consistent with statutes requiring division of property and does not constitute deferred maintenance. The nearly equal distribution of property stood on circuit court’s findings on factors set forth by statute. Misconduct that has affected the burdens within the marriage may affect the distribution of marital property but circuit court may still distribute marital property equally.
The trial court did not abuse its broad discretion in its distribution of marital property, in that the division of marital property was equitable, the order was definite and capable of enforcement, and the trial court considered the factors set forth in Section 452.330, RSMo.
Missouri Court of Appeals
Eastern District - ED102483
Filed July 19, 2016