Protection from Bankruptcy

Q. What are the rules around non-ERISA 403(b) plans being protected from bankruptcy and how to they compare to IRAs and 401(K) plans?

A. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 extended bankruptcy protection to all retirement plans (whether ERISA or non-ERISA), and to IRAs up to $1 million. The $1 million limit for IRAs includes only regular contributions, while rollovers to IRAs are protected to $10 million.

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