Legal Question in Bankruptcy in California

Retirement Pension

Is the Retirement Pension of my 35 year old neice

who has just filed for chapter 7 in Orange County,

California exempted. If so which legal statute is

she to put on her filing,she didn't put any in, she is doing it herself,should she?

Her assets are only about $15,000(including the retirement fund of$10,000) and debts are $25,000. Thanks.


Asked on 5/27/99, 9:12 am

3 Answers from Attorneys
Ken Koury Kenneth P. Koury, Esq.

Re: Retirement Pension

Yes, it is exempted

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Answered on 6/01/99, 1:22 pm
Mark Markus Law Office of Mark J. Markus

Re: Retirement Pension

The answer to your question depends on whether or not the pension plan is ERISA qualified. If it is, it is automatically exempt. If it is not, it is exempt in the amount reasonably necessary for her future maintenance and support. I can't tell you which exemption to use since I do not know which exemption scheme she utilized for her other exemptions (and it must be the same).

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Answered on 6/01/99, 1:30 pm
Marcus G. Tiggs Slate and Leoni, A Professional Corp

Re: Retirement Pension

If the plan is ERISA Qualified it is not part of the bankruptcy estate. Therefore, it would not be in jeapordy. Otherwise, the standard of protection is to the extent necessary and reasonable. Have your niece contact her plan administrator to verify if it is ERISA Qualifed

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Answered on 6/01/99, 8:09 pm


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