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Text of 6th Cir. Opinion Holding 403(b) Annuity NOT Excluded from Debtor's Bankruptcy Estate (PDF)
U.S. Court of Appeals for the Sixth Circuit 
[Opinion] Dec. 11, 2003 Excerpt: The principal issue in this case is whether the bankruptcy court erred when it concluded that the Debtors' Section 403(b) annuity plans constitute trusts within the meaning of 11 U.S.C. Section 541(c)(2).... Both plans contain anti-alienation clauses (transfer restrictions) that prevent the Debtors from reaching the assets of their pension funds until they are 59½ years of age.... No creditors can reach the assets of the Debtors' pension plans under the terms of the anti-alienation clauses. [In re: Raymond Adams, No. 03-8011 (6th Cir. Bankr. Dec. 10, 2003)] MORE >> |
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