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Full-Text Articles in Retirement Security Law
Erisa Retirement Plans In Individual Bankruptcy, John Minton Newell
Erisa Retirement Plans In Individual Bankruptcy, John Minton Newell
University of Michigan Journal of Law Reform
When an employee covered by an ERISA retirement plan files a petition in bankruptcy, the court is presented with a number of complex issues regarding the relationship among ERISA, the Bankruptcy Code (Code), and the state law of creditors' rights. Three issues have emerged in these cases, and the courts have divided on the proper resolution of each of these issues. First, is the debtor's interest in an ERISA retirement plan "property of the estate," and thus available for distribution to creditors? Second, if the debtor's interest is property of the estate, and the debtor uses the state exemption scheme, …