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DeMarco v. DeMarco

Valuation of police pension fund for purposes of equitable distribution reversed; court erred in valuing husband's pension as of date plan vested, without regard to certain factors that must be established in the record and considered before setting a retirement date as a reference point.

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� 1 Appellant Frank DeMarco (Husband) asks us to determine whether the trial court properly valued his police pension fund for purposes of equitable distribution as if he retired at age fifty, even though he continues to work with no immediate plans to retire. We hold that it was error to simply value Husband’s pension as of the date the plan vested, without regard to certain factors that must be established in the record and considered by the trial court before setting a retirement date, as a reference point, to value a pension. Accordingly, we reverse and remand for an evidentiary hearing consistent with this opinion.

� 2 The trial court set out the relevant facts and procedural history of this appeal as follows:

Plaintiff, Frank J. DeMarco (“Husband”) and Defendant, Barbara A. DeMarco (“Wife”) were married on January 17, 1970 and separated after twelve (12) years on July 2, 1982. Husband became employed as a police officer with the City of Pittsburgh on January 12, 1970, just five (5) days prior to the parties’ marriage and he continued in this employment throughout the marriage and through trial. Wife was not gainfully employed during the marriage as Husband insisted that she be a homemaker and primary caregiver to the parties’ children, Frank, Jr., born February 21, 1971 and Roxanne, born October 20, 1977. After the parties separated in 1982, Wife remained in the marital residence with the children and Husband voluntarily paid support to Wife of $700 per month until April 29, 1996, when the parties entered into a Consent Order whereby Husband paid Wife Alimony Pendente Lite of $740 per month. At the time of trial, Husband was fifty-one (51) years of age and Wife was fifty (50) years old.

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