Granger v. Granger, 2016 UT App 67 (Apr. 7, 2016)
Apr 7, 2016
The parties’ settlement agreement provided for division of the husband’s 401(k) plan based on the formula articulated in Woodward v. Woodward, 656 P.2d 431 (Utah 1982). Woodward, however, involved a defined benefit plan, not a 401(k) defined contribution plan, and the formula could not be applied without modification. The court held that the parties’ agreement to apply the Woodward formula to this 401(k) plan yielded an inequitable result and remanded for equitable apportionment of the account.