Legal Question in Family Law in Maryland
I am married 21 years. I have been separated from my husband for 7 months. I currently contribute a full 15% of my paycheck to my company sponsored 457 plan. My question is - Should I stop my contributions? I am not sure what to do.
My husband has told me that he has stopped all contributions to his company sponsored 457 plan. He says he will not give me any of his retirement from his current job, nothing from his 457 plan from his current job as well as not giving me any of his police pension fund. He will not relent. I have begged him to equalize his 457 plan which is more than double mine, give me the pension I am entitled to since his 10 years with the police force happened while we were married, as well as the retirement. He says he does not have to do this.
I am not sure if I should stop my contributions to my 457 plan. Please help me. I am so upset about this.
1 Answer from Attorneys
Your respective pension plans are marital property to the extent they were created after you were married, which seems to be the case here. Thus your husband is incorrect when he says he doesn't have to share his plan benefits with you. As part of a divorce the judge can require that you receive part of his benefits upon retirement or if he attempts to cash out the plan, after adjusting for the value of your plan. If your separation was by mutual consent, or if he moved out on you, when 1 year is up you could file for divorce on the ground of either voluntary separation or desertion. I urge you to meet with an experienced family attorney to discuss your specific circumstances and learn your rights.