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Years ago, I worked for a company and was part of an ERISA plan. When I left the company, the account was transferred. It is still an ERISA Contract and is labeled as an NTA. It is not an IRA and is not a Life policy. Will this asset be exempt from my bankruptcy?
Hi JACustomer,
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That's your answer?
We were knocked out of the "Chat".
1) What state are you in?
2) Have you lived in that state continuously for the past 2 years?
3) What does NTA stand for?
South Dakota, yes, non transferrable account
Your NTA account, if it is an ERISA-qualified account, would be exempt (protected) from the Bankruptcy estate up to $1,000,000. South Dakota Stat. 43-45-16.
I think this is what you wanted to know. If not, please let me know.Thank you.
Experience: Bankruptcy professor.