There's a difference between a pension, which is a "defined benefit plan," and retirement plans such as 401(k)s or Roth IRAs, which are known as "defined contribution plans."

Defined benefit plans are commonly divided on an "if, as and when" basis—meaning that a spouse may be granted a fractional share of the other spouse’s pension when that pension is actually received. However, if a spouse objects to a division on an "if, as, and when" basis the court may need to calculate the present value of the pension and determine what, if any, monetary award it will grant.

In granting a monetary award the court has the discretion to order payment in a lump sum or installments. Defined contribution plans are usually totaled up and then divided equally by a court. Generally the spouse with more retirement assets in their individual name will be ordered to make a lump sum transfer to the other spouse. The only type of pension benefit that cannot be divided under Maryland law are VA disability compensation benefits.