California Family Code 2071 – Either party or their representatives may notify the employee benefit …
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Either party or their representatives may notify the employee benefit plan of any proposed property settlement as it concerns the plan before any hearing at which the proposed property settlement will be a matter before the court. If so notified, the plan may stipulate to the proposed settlement or advise the representative that it will contest the proposed settlement.
(Amended by Stats. 1994, Ch. 1269, Sec. 20. Effective January 1, 1995.)
Terms Used In California Family Code 2071
- Employee benefit plan: includes public and private retirement, pension, annuity, savings, profit sharing, stock bonus, stock option, thrift, vacation pay, and similar plans of deferred or fringe benefit compensation, whether of the defined contribution or defined benefit type whether or not such plan is qualified under the Employee Retirement Income Security Act of 1974 (P. See California Family Code 80
- Property: includes real and personal property and any interest therein. See California Family Code 113
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.