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Monday, April 04, 2005

Creditors Can't Seize I.R.A.'s, High Court Rules
The New York Times > AP > National > Creditors Can't Seize I.R.A.'s, High Court Rules: "The Supreme Court on Monday ruled that creditors may not seize Individual Retirement Accounts when people file for bankruptcy, giving protection to a nest egg relied upon by millions of Americans.

The unanimous decision sides with a bankrupt Arkansas couple fighting to keep more than $55,000 in retirement savings. As a result, IRAs now join pensions, 401(k)s, Social Security and other benefits tied to age, illness or disability that are afforded protection under bankruptcy law."
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posted by Richard Campbell at 4/04/2005 02:04:00 PM

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