Is My Retirement Money Protected?

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

Most retirement plans are protected in bankruptcy. The Supreme Court has ruled that retirement plans that qualify under a federal law called ERISA are not property of the estate for bankruptcy purposes. This means that the bankruptcy trustee has to leave these assets alone. Most retirement plans qualify under ERISA, and even if they don’t, they may be protected under other provisions of the bankruptcy code. Since there are always exceptions, you should consult with us to make sure that your retirement money is protected.