Guest geo Posted August 31, 2001 Posted August 31, 2001 I am self employed and do not have, or ever had, any employees. I have a money purchase, profit sharing plan (paired plan formerly Keogh). Since this is a "qualified" plan it is my understanding that these assets are protected from creditors under ERISA. Is that correct? I have been told yes and I have been told no because I have never had any employees. Thank you.
Larry M Posted September 4, 2001 Posted September 4, 2001 [i am not an attorney.] It is my understanding your qualified plans are not covered by the creditor protection portions of ERISA - although they are subject to other ERISA provisions. You may have creditor protection as a result of your state's laws concerning qualified plans.
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