Help - Search - Members - Calendar
Full Version: Creditor protection for QRP distributions
BenefitsLink Message Boards > Retirement Plans > Retirement Plans in General
BruceC
If QRP's are protected from creditors, what happens to plan distributions?

For example, most know that O.J. Simpsons NFL Pension is protected from the damage awards from the civil suit brought by the Brown and Goldman families. But it also seems that plan distributions are also protected. Does this level of QRP distribution protection vary soley by state or is there a Federal statute? Are all distributions, even a lump sum distribution, equally protected or is it limited to dollar amounts or a percentage of the plan?

And if distributions are protected, would they remain protected indefinitely? And what about earnings on the distributions?

I Googled for this and could not find a complete answer.

Thanks

BruceM
Sieve
Once a distribution is made, the ERISA protection against assignment and alienation disappears, and the personal assets are subject to attachment as personal assets under state law.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2012 Invision Power Services, Inc.