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Bankruptcy Court Rules That Variable Annuity Purchased with 401(k) Rollover Is Exempt from Bankruptcy Estate
Wolters Kluwer Law & Business 
Dec. 4, 2012 "A debtor was authorized under the Bankruptcy Code to exempt a variable annuity contract that had been purchased with funds rolled over from her 401(k) account, a Bankruptcy Court in New Jersey has ruled. The variable annuity constituted a qualified retirement annuity, for purposes of the exemption, because it was designed as an income substitute for wages." [In re Kiceniuk (Bankr. D.N.J. 2012)] MORE >> |
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