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Dividing Pension and Retirement Benefits During Divorce

Illinois Supreme Court Strikes Down Attempted Pension Reform

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On November 29, 2018, the Illinois Supreme Court unanimously declared two recent changes in Public Act 97-651, impacting the calculations for some pension plans, to be unconstitutional.[1]In Carmichael v Laborers’ & Retirement Board Employees’ Annuity & Benefit Fund of Chicago, the Court was forced to decide whether these recent amendments, which modified the calculation of …

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Dividing Pension and Retirement Benefits During Divorce

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When considering what they’re entitled to in a divorce, most people think of dividing up the bank accounts and the property. Few of them think of the pension, 401k, or other retirement plan, but they should. In most states (depending on the relevant marriage law) all pension money earned during the marriage is considered an …

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