Corporate Pensions (Defined Benefit Plans) in Portland Divorce Mediation

What to Know About Corporate Pensions in an Oregon Divorce: The Short Version

​Although most private employers no longer have pension plans, some companies or industries still do. A pension plan, which provides a monthly income for life, once the employee reaches the requisite retirement age, is known as a defined benefit plan because, as the name suggests, the benefit is defined by a formula.

Pensions can be divided such that the non-employee spouse (often called the Alternate Payee) receives a share of the pension benefit of the employee spouse (often called the Participant). The portion to which the non-employee spouse is entitled often takes into account the number of years that the employee worked for the company and the number of those years that were during the marriage.

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