What is a defined benefit plan and why do I need a valuation?

A defined-benefit plan like a Pension does not always have a straightforward value in the same way as an IRA or 401(k).

Instead, a pension is a promise by the employer to pay the employee a certain amount of money in retirement based on a specific formula. In order to get a value and for it to be fairly considered in the overall asset division, it needs to be valued by a professional.