Prev: What happens if I get divorced?
What happens to my 401(k) if declare bankuptcy
In most cases, your 401(k) money remains protected if you declare bankruptcy.
- 401(k) Must be qualified
Your 401(k) Plan Must be a “Qualified”
The Bankruptcy Code states that retirement income and retirement plans are exempt from the bankruptcy estate. To be considered exempt, your 401(k) plan must be a “qualified” plan that meets the requirements of the IRS.
The Bankruptcy Code states that retirement income and retirement plans are exempt from the bankruptcy estate. To be considered exempt, your 401(k) plan must be a “qualified” plan that meets the requirements of the IRS.
A new kind of retirement savings benefit.
Icon works like a 401k plan but without the cost, complexity, and administrative burden. We’ve unified workplace savings, personal retirement, and portfolio management into a single solution.
Learn More-
Radically less expensive
Employers pay a small one-time set up fee, and no ongoing plan administration fees.
-
We do all the work
It takes minutes to set up, no plan design required, no federal filing requirements.
-
Investor focused
Our portfolios are built with low-cost funds from leading asset managers. Icon acts as a fiduciary to our clients.
Related:
I need to rollover my old account. What are my options?
What happens if I die?
What happens if I get divorced?
