How can we divide IRAs, 401(k)s and pension plans?
There are other kinds of assets called deferred income assets. Some of these are Individual Retirement Accounts (IRAs) which represent funds that the parties have put aside for retirement and deferring income taxes. Another is called a defined contribution plan or a 401(k) plan. These plans are offered through an employer and there can be employee contributions which are tax free at the time the contribution is made. The employer usually matches these contributions using some sort of formula. Both IRAs and defined contribution plans usually have values that are based on other assets such as stocks and/or bonds that have been explicitly set aside to fund these accounts. Typically these plans will issue account statements on a regular basis. There is a third type of plan called a defined benefit plan or a pension plan. These plans are offered through an employer and usually do not require employee contributions but generate monthly benefits to the employee upon the employees retirement,
