Section 15.38 Retirement Plans

• Library: Family Law Deskbook and 2014 Supp

E. (§15.38) Retirement Plans

The recipient of the retirement plan is the party taxed on the distributions taken from it. Therefore, counsel should note that a $50,000 certificate of deposit and a profit-sharing plan containing $50,000 are not of equal value. The moneys in the plan will be taxed upon distribution, and if the distribution occurs early, there is likely to be a penalty. A trial court is within its discretion in taking cognizance of tax liability in determining the present value of a pension or...