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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Years ago, I worked for a company and was part of an ERISA

Resolved Question:

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?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.

cfortunato :

Hi JACustomer,

Customer: replied 4 years ago.
That's your answer?
Expert:  cfortunato replied 4 years ago.

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?


Customer: replied 4 years ago.

South Dakota, yes, non transferrable account

Expert:  cfortunato replied 4 years ago.

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.

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