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2005 SESSION

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HB 1695 Individual retirement accounts (IRAs); benefits exempt from creditors.

Introduced by: Lionell Spruill, Sr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Creditors; retirement benefits exempt. Increases the amount of an individual retirement account that is exempt from the claims of an individual's creditors from an amount sufficient to generate $17,500 annually to an amount sufficient to generate $25,000 annually.

SUMMARY AS PASSED HOUSE:

Creditors; retirement benefits exempt. Increases the amount of an individual retirement account, to which an employer does not contribute, that is exempt from the claims of an individual's creditors from an amount sufficient to generate $17,500 annually to an amount sufficient to generate $25,000 annually.

SUMMARY AS INTRODUCED:

Creditors; retirement benefits. Eliminates the limitations on the amount of an individual retirement account, to which an employer does not contribute, that are exempt from the claims of an individual's creditors.