Roth Ira

[PolishMan]

I live in Georgia , I have about $ 2500.00 in a Roth IRA.
Is an Roth IRA exempt from chapter 7 ? Should I transfer that money into my 401k ?

I am about 6-9 months away from filing.

[justbroke]

IRAs are protected in Georgia. I think there is protection from under both the Georgia Statutes (18-4-22) and the Federal Code (11 USC 522), although Georgia doesn't use Federal Exemptions.

Georgia 18-4-22.
(a) Funds or benefits from a pension or retirement program as defined in 29 U.S.C. Section 1002(2)(A) or funds or benefits from an individual retirement account as defined in Section 408 or 408A of the United States Internal Revenue Code of 1986, as amended, shall be exempt from the process of garnishment until paid or otherwise transferred to a member of such program or beneficiary thereof. Such funds or benefits, when paid or otherwise transferred to the member or beneficiary, shall be exempt from the process of garnishment only to the extent provided in Code Section 18-4-20 for other disposable earnings, unless a greater exemption is otherwise provided by law.
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