Bankruptcy and savings accounts
If I file for bankruptcy, will my creditors be able to get to my retirement account?
1 Answers
Retirement accounts are governed by the Employee Retirement Income Security Act (ERISA) of 1974; they are generally protected from seizure by creditors.
Assets in an IRA and/or Roth IRA are protected from creditors up to certain limit–$1,283,025.
All assets held in ERISA plans are protected from creditors even after they are rolled over to an IRA.
Retirement assets are not protected from an IRS levy.
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