pmacduff
Jan 25 2005, 02:05 PM
I had a broker ask me...does a SIMPLE IRA offer any protection from bankrupcy or lawsuits as other Qualified Plans do?
Belgarath
Jan 25 2005, 02:14 PM
It's a not an ERISA plan, so protections would be governed by state law applicable to IRA's.
pmacduff
Jan 25 2005, 02:23 PM
Belgarath - thank you, that's what we thought, too.
mbozek
Jan 25 2005, 05:53 PM
The plan assets would be exempt from creditors claims under a SIMPLE 401k plan.
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