In Plain English What Does This Mean
In plain english what does this mean? It's an exemption statement for NY ira's Does "payments from" mean I can draw out of my ira and the money is exempt. The need for medicine is getting close again. "100% of assets or interests in, or payments from, trust or plan qualified under IRC, except for additions made within 90 days before interposition of claim on which judgment is entered or which is a fraudulent conveyance; in bankruptcy, all payments under stock bonus, pension, profit sharing or similar plan unless such plan (other than one qualified under IRC §401), was established by debtor under auspices of insider."
There's something missing. This language doesn't talk about withdrawals. Your best bet is to ask the plan administrator whether there is a penalty for withdrawals under the circumstances is taxable (and get their answer in writing).
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