Supreme Court to rule on bankruptcy and IRAs

Supreme South Florida Sun-Sentinel: "More than 45 million people have socked away just under $3 trillion in IRAs. And their popularity might soar if the Supreme Court rules they are protected, since people who have been leaving assets in 401(k) plans may be more inclined to roll them into IRAs, said Ed Slott, publisher of Ed Slott's IRA Advisor newsletter in Rockville Centre."

Do I.R.A.'s Have Protection in Bankruptcy Proceeding?

The New York Times: "Colli C. McKiever, the lawyer representing Jill R. Jacoway, the trustee appointed to oversee the Rouseys' affairs and pay off their creditors, said that 'unfettered access' to an I.R.A. made it 'much more like a savings account' than a retirement plan. Savings accounts are not shielded from creditors in a bankruptcy."