Permalink Submitted by Alan Spross on Thu, 2007-08-23 01:28
While IRA accounts are generally protected in bankruptcy under the 2005 BK Act, the level of protection can vary by state, and also by the court an action is filed in. There are also limits for IRA funds generated by regular contributions (1mm), while IRA funds sourced from employer plan rollovers do not have a limit under the bankruptcy legislation. Attached is a link, from which you will see there is no simple answer to this:
Permalink Submitted by Alan Spross on Thu, 2007-08-23 01:28
While IRA accounts are generally protected in bankruptcy under the 2005 BK Act, the level of protection can vary by state, and also by the court an action is filed in. There are also limits for IRA funds generated by regular contributions (1mm), while IRA funds sourced from employer plan rollovers do not have a limit under the bankruptcy legislation. Attached is a link, from which you will see there is no simple answer to this:
http://www.fpanet.org/journal/articles/2005_Issues/jfp0805-art6.cfm