1 See Institute memorandum to Operations Members No. 15-98, Pension Members No. 36-98, Tax Members
No. 16-98, Pension Operations Advisory Committee No. 22-98 and Transfer Agent Advisory Committee No. 30-
98, dated June 22, 1998.
[10637]
January 12, 1999
TO: OPERATIONS MEMBERS No. 2-99
PENSION MEMBERS No. 3-99
PENSION OPERATIONS ADVISORY COMMITTEE No. 2-99
TAX MEMBERS No. 3-99
TRANSFER AGENT ADVISORY COMMITTEE No. 4-99
RE: UPDATED INSTITUTE SURVEY OF IRA PROTECTION IN BANKRUPTCY
______________________________________________________________________________
The Institute is pleased to provide you with its revised 1998 survey of the treatment of individual
retirement accounts in bankruptcy under state law. The Institute released its 1998 survey of IRA
protection in bankruptcy in June 1998.1 Since that time, it has come to our attention that certain states
passed legislation relating to IRA protection in bankruptcy, specifically Delaware, Massachusetts and
New York. Therefore, for your convenience, we have updated our June 1998 survey to reflect these
changes. Also, please note that we did not conduct a new survey at this time, but merely updated our
June 1998 survey to incorporate the changes to state law of which we became aware, i.e., Delaware,
Massachusetts and New York.
Because the information is provided in summary form and the area is one in which the law is not settled, this survey is
intended to serve as a reference guide, but not as legal advice. Further research or consultation with legal counsel is recommended.
We continue to request that members with information of any relevant state legislation or court
cases regarding the status of IRAs under state bankruptcy or creditor law contact Kathryn Ricard at
(202) 218-3563 or Russ Galer at (202) 326-5835. A copy of the revised survey is attached.
Kathryn A. Ricard
Assistant Counsel
Attachment