Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Director of 3(16) Operations

Compass
(Remote / NH / Hybrid)

Compass logo

Retirement Plan Administrator

Bates & Company, Inc.
(Remote / Winter Park FL)

Bates & Company, Inc. logo

Loan & Distribution Specialist

AimPoint Pension
(Remote)

AimPoint Pension logo

Business Development Director

AimPoint Pension
(Remote / Pompano Beach FL / AL / GA)

AimPoint Pension logo

Regional Vice President of Sales

The Retirement Plan Company
(Remote / AL / FL / GA / MS)

The Retirement Plan Company logo

Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)
(Remote)

Loren D.  Stark Company (LDSCO) logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile app icon
LinkedIn icon     Twitter icon     Facebook icon

Supreme Court Argument Preview: Scope of Protections for Retirement Funds in Bankruptcy Squarely at Issue
SCOTUSblog Link to more items from this source
Mar. 19, 2014

"The specific question in this case is whether those provisions exempt the $450,000 IRA that petitioner Heidi Clark inherited upon the death of her mother.... [Clark] contends that the inherited IRA remains retirement funds because they were set aside for retirement into the identified account and remain in that account.... [The trustee in Clark's bankruptcy] ... argues that funds held in an inherited IRA are not 'retirement funds' because an inherited IRA does not have the attributes of other tax-exempt retirement funds.... [T]here is no tax penalty if Ms. Clark withdraws all of the funds from the IRA immediately; all of the other funds would be subject to penalties if they were immediately liquidated.... The Justices easily could write an opinion favoring either party. So this well might be one of those cases in which the [oral] argument could tip the balance either way." [In re Clark, 714 F.3d 559 (7th Cir. 2013; cert. granted Nov. 26, 2013).]

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title).
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above).
© 2024 BenefitsLink.com, Inc.