Most investors understand the significant tax benefits of using their qualified retirement accounts — such as their 401(ks IRAs and Roth IRAs — to build long-term wealth But did you know that these types of accounts also provide creditor protection, One of the lesser-known benefits of retirement accounts is this — Federal statues offer retirement accounts special treatment when subject to the claims of creditors This creditor protection can be a valuable tool in the event of a legal liability personal injury lawsuit or bankruptcy Accounts that receive special protection include 401(k plans pension plans profit sharing accounts SEP IRAs…, Type of Account, Bankruptcy protection, Legal liability protection, 401(ks, Unlimited protection 1 Unlimited protection 1, Pension plans, Unlimited protection 1 Unlimited protection 1, Profit sharing accounts, Unlimited protection 1 Unlimited protection 1, SEP IRAs, Unlimited protection 2 Regulated by state, SIMPLE IRAs, Unlimited protection 2 Regulated by state, 403(b plans, Unlimited protection 1 Unlimited protection 1, 457 plans, Unlimited protection 1 Unlimited protection 1, Traditional IRAs, Aggregate protection up to $1512350 (2022 2 Regulated by state, Roth IRAs, Aggregate protection up to $1512350 (2022 2 Regulated by state 1 Based on ERISA guidelines | 2 Based on BAPCPA guidelines, Account withdrawal protection from creditors, Furthermore withdrawals from an ERISA retirement plan can retain an enhanced level of creditor protection depending on the destination of the withdrawal Funds deposited to another employer’s ERISA plan maintain unlimited protection for both bankruptcy and legal liability Funds deposited to an IRA account consisting solely of rollover funds maintain unlimited protection for bankruptcy but not for…, Published January 2025, 1 Employee Retirement Income Security Act of 1974 (ERISA 2 Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 3  https//wwwthebankruptcysiteorg/exemptions/federalhtml

Ricardo Jones is a Vice President Client Relationship Specialist in Mesirow Wealth Management He is responsible for day-to-day client service and communications including client portfolio management trade requests account processing and documentations Ricardo has 16 years of experience in financial services insurance and banking with a focus on working directly with clients Prior to joining…

Ricardo Rivas is an Assistant Vice President in Mesirow Currency Management He is responsible for assisting the technological implementation and maintenance of core portfolio management systems and tools Ricardo earned a Bachelor of Science in computer engineering from Northwestern University