Are Retirement Plans Protected From Creditors?

  1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    ERISA is a federal law which dates back to 1974 that sets minimum standards for retirement plans in the private sector. The protections provided to plan participants are extensive. Pension benefits are generally protected from creditor claims and from bankrupcy but there are exceptions. Consult with tax and legal advisers who have expertise in pension plans for specifics.
    Answered on May 13, 2013
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