pmacduff Posted January 25, 2005 Posted January 25, 2005 I had a broker ask me...does a SIMPLE IRA offer any protection from bankrupcy or lawsuits as other Qualified Plans do?
Belgarath Posted January 25, 2005 Posted January 25, 2005 It's a not an ERISA plan, so protections would be governed by state law applicable to IRA's.
pmacduff Posted January 25, 2005 Author Posted January 25, 2005 Belgarath - thank you, that's what we thought, too.
mbozek Posted January 25, 2005 Posted January 25, 2005 The plan assets would be exempt from creditors claims under a SIMPLE 401k plan. mjb
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now