High court to hear Arkansas couple’s IRA case
(nwanews.com): "Federal law allows people in bankruptcy to keep payments under pensions, company stock bonuses or similar plans that are to be received 'on account of illness, disability, death, age or length of service.'
But the St. Louis-based 8 th U.S. Circuit Court of Appeals ruled in the Rouseys’ case that IRAs aren’t covered by that exemption. When people withdraw IRA money early, subject to a tax penalty, those payments aren’t made on account of age, the appeals court said."
But the St. Louis-based 8 th U.S. Circuit Court of Appeals ruled in the Rouseys’ case that IRAs aren’t covered by that exemption. When people withdraw IRA money early, subject to a tax penalty, those payments aren’t made on account of age, the appeals court said."
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