Central District Consumer Bankruptcy Attorney's Association

Dear Desiree,
Subsections 541(b)(7)(A)(i)(II) and (B)(i)(II) provide an answer to your question:
Property of the estate does not include - . . . any amount . . . - withheld by an employer from the wages of employees for payment as contributions - to- . . . a deferred compensation plan under section 457 of the Internal Revenue Code of 1986; or . . . received by an employer from employees for payment as contributions - to - . . . a deferred compensation plan under section 457 of the Internal Revenue Code of 1986 . . .
All the best,
Nick
Nicholas Gebelt, Ph.D., J.D.
Board Certified Bankruptcy Specialist
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I am a little brain dead today, but I want to make sure that a deferred comp
account (under 457) is exempt in a Chapter 7 no asset scenario. For this
PC, it is really all she has other than her 401K.
Thanks!
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
714-375-6663
714-908-7646 (fax)
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