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Creditors Can Reach Benefits under Top Hat Plan, District Court Rules
Womble Carlyle 
Apr. 11, 2013
"After recognizing that the Plan was exempt from ERISA's anti-alienation provision mandate, the [federal district court in Maryland] went on to address whether the terms of the Plan controlled over Maryland's garnishment laws by virtue of ERISA's preemption section 514. In holding in favor of the creditor, the Court ... [ruled] that ERISA did not preempt state garnishment laws that simply provided a procedural device for enforcing a judgment. As to the Participant's argument that garnishment would violate the terms of the Plan, the Court held that the creditor's rights were not subject to the terms of the Plan[.]" [Sposato v. First Mariner Bank, 2013 WL 1308582 (D. Md. Mar. 29, 2013)]
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