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Document summary:
When the husband retired in 1992, he elected to purchase a joint survivor annuity option to insure that the wife would continue to receive benefits after his death. In order to purchase this election, the husband agreed to have his monthly pension benefit reduced from $2,513.37 to $1,890.05. At the age of 65, the husband would receive total monthly pension benefits of $1,990.05 ($1,890.05 plus $100 additional for life). The nonmarital portion of the husband's pension was $300, leaving the marital portion of the monthly benefit at $1,690.05. Based upon these figures, the trial court divided the marital property equally, giving the wife $845 and the husband $1,145.05 ($845.05 marital share plus $300 nonmarital share). The husband appealed this judgment.
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