This is very confusing. I thought any ERISA qualified account was exempt in AZ.
We now have in the AZ House HB2698 which was rejected by Republicans trying raise the homestead exception to $300,000 but that part has now been pulled.
From Capitol Reporter:
"What's left in HB2698, which now needs a final House roll call before going to the Senate, is a new protection for 401(k) retirement plans. That brings them under the same shield from bankruptcy as things like individual retirement accounts."
I have not found out WHY they propose to make 401k's exempt--- I though they already were!!!!
With all AZ budget/immigration issues there is no assurance this will even get to the Senate much less get passed.
We now have in the AZ House HB2698 which was rejected by Republicans trying raise the homestead exception to $300,000 but that part has now been pulled.
From Capitol Reporter:
"What's left in HB2698, which now needs a final House roll call before going to the Senate, is a new protection for 401(k) retirement plans. That brings them under the same shield from bankruptcy as things like individual retirement accounts."
I have not found out WHY they propose to make 401k's exempt--- I though they already were!!!!
With all AZ budget/immigration issues there is no assurance this will even get to the Senate much less get passed.
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