Creditors' Rights Tax Qualified Plans and IRAs

Altieri, Mark P., Naegele, Richard A., The CPA Journal

Under ERISA and IRC regulations, a participant's accrued benefit or account balance in a qualified retirement plan is generally insulated from attack by creditors. However, this protection is not absolute, and there are significant exceptions in the area of owner-- only plans and IRAs, which are affected by evolving state law. CPAs representing creditors or bankrupt individuals should be aware of the existing guidance in order to best represent a client's interest.

ERISA and IRC AnN-Alienation Provisions

ERISA. Title I of ERISA provides that a pension plan shall provide that benefits under the plan may not be assigned or alienated; in other words, the plan must provide a …

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Publication information: Article title: Creditors' Rights Tax Qualified Plans and IRAs. Contributors: Altieri, Mark P. - Author, Naegele, Richard A. - Author. Magazine title: The CPA Journal. Volume: 70. Issue: 10 Publication date: October 2000. Page number: 22+. © New York State Society of Certified Public Accountants Feb 2009. Provided by ProQuest LLC. All Rights Reserved.

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