I have read several articles on this subject and found it to be confusing if not contrary at times.
It is my understanding that Social Security and ERISA pensions are generally considered safe from garnishment from collectors. However, I came across this article that cautions against mixing SS with other funds even ERISA pensions. Apparently a ERISA pension is protected until it is deposited into a bank account. The recommendation in this article is to cash the pension check out.
Can anyone shed some light on the subject?
It is my understanding that Social Security and ERISA pensions are generally considered safe from garnishment from collectors. However, I came across this article that cautions against mixing SS with other funds even ERISA pensions. Apparently a ERISA pension is protected until it is deposited into a bank account. The recommendation in this article is to cash the pension check out.
Can anyone shed some light on the subject?
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