SB214 Summary

• Eliminates the 10-year marriage requirement for courts to award retirement benefits upon divorce.

• Expands the marital estate to include all vested and unvested retirement benefits acquired during marriage from any employment, including individual, joint, or group retirement plans, pensions, profit-sharing plans, and annuities.

• Limits the noncovered spouse to no more than 50 percent of retirement benefits and allows courts to use any equitable method for valuing, dividing, and distributing such benefits.

• Requires passive increases or decreases in retirement benefit values between the award date and distribution date to be shared on a pro rata basis between both parties.

• Becomes effective January 1, 2018.