Guest Fred Dutcher Posted June 4, 1999 Posted June 4, 1999 It is generally the case in a gov't hospital 403b plan that when a participant files Chapter 7 that the assets in his account are available to creditors, unlike a qualified plan under ERISA?
Guest ESOPwizard Posted June 5, 1999 Posted June 5, 1999 I believe that there was a ruling on this published within the last week. Even if the 403(B) is not subject to the anti-alienation rules of ERISA, the account or annuity may be protected under state law. I recommend that you talk to a bankruptcy attorney.
Ellie Lowder Posted June 17, 1999 Posted June 17, 1999 H.R.833 (The Bankruptcy Reform Bill) passed the House on May 5 - but even if it passes the Senate, I understand Clinton is expected to veto the bill. It extends federal bankruptcy protection to IRAs, 457, 403(B)s and other pre-tax retirement plans.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.