2005 Minnesota Statutes - 518.582 — Procedure for valuing pension benefits or rights.

     518.582 Procedure for valuing pension benefits or rights.


    Subdivision 1.    Appointment of actuary.  Each court of 
 this state that has jurisdiction to decide marriage dissolution 
 matters may appoint a qualified person experienced in the 
 valuation of pension benefits and rights to function as an 
 expert witness in valuing pension benefits or rights. 


    Subd. 2.    Standards.  A court appointed actuary shall 
 determine the present value of pension benefits or rights that 
 are marital property of the parties to the action based on the 
 applicable plan documents of the pension plan and the applicable 
 actuarial assumptions specified for use in calculating optional 
 annuity forms by the pension plan or for funding the pension 
 plan, if reasonable, or as specified by the court.  The court 
 appointed actuary shall report to the court and to the parties 
 the present value of the pension benefits or rights that are 
 marital property. 


    Subd. 3.    Compensation.  The court appointed actuary 
 may be compensated at a rate established by the court.  The 
 compensation of the court appointed actuary shall be allocated 
 between the parties as the court directs. 


    Subd. 4.    Stipulation.  In lieu of valuing pension 
 benefits or rights through use of the court appointed actuary, 
 the parties may stipulate the present value of pension benefits 
 or rights that are marital property. 


    HIST: 1987 c 157 s 19; 1988 c 619 s 1