Marital Property Order Guidance
Concept
The Iowa Supreme Court’s decision in Branstetter v. Branstetter found that a retirement pension from MFPRSI is includable as marital property and therefore, is subject to division in a divorce degree.
Description
The retirement System periodically receives requests for information concerning the application of the Court’s decision to the division of assets in a pending divorce proceedings. The System has prepared a “Sample Marital Property Order” to provide guidance in such cases. See “Sample Marital Property Order. Along with the Sample Marital Property Order, a member may need an estimate of their current benefit amount. A member may request this estimate through this web site at the Benefit Estimate Folder. The retirement System will, upon request, review a draft Marital Property Order prior to its entry with the Court. Draft copies should be forwarded by fax or by mail. If a MFPRSI member is divorced and the pension has been divided, a copy of the Marital Property Order should be forwarded to the retirement System. The retirement System will review the Order, and notify the member whether it is acceptable to the System. The Order will be kept on file for execution upon retirement or refund of the member’s contributions. Orders remain in effect until revised or terminated by the Court or until the death of one of the parties. Marital Property Orders cannot be terminated or modified by the System solely upon the member’s request.