"Judgment Creditor AMBS Diagnostics, LLC ('AMBS') originally sought to collect on its money judgment by levying the assets held in judgment debtor Timothy O'Brien's [Individual Retirement Accounts].... O'Brien formed a new limited liability company, had the new LLC form a 401(k) Plan, and then transferred all of the assets previously held in his IRAs into the newly formed 401(k) Plan.... [T]he Court of Appeal ruled that that the 401(k) Plan was not principally or primarily designed and used for retirement purposes, so the plan was not a fully exempt 'private retirement plan'[.]' [O'Brien v. AMBS Diagnostics, LLC, No. B288072 (C.A. 2nd, Aug. 8, 2019)]  MORE >>