asdf wrote:

- quote -

I don't see how as a 401(k) is a qualified plan under ERISA
(Employee Retirement Income Security Act) and as such the
assets are protected from creditors. Remember the O.J.
Simpson civil trial? OJ lost and the plaintiffs were awarded
millions of dollars of compensatory damages. O.J. had a
$4,000,000 pension that was not subject to civil court
judgments.

--
Alan
http://taxtopics.net

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Will some financial institutions accept a 401k as collateral
for a loan? I want to use the 401k first to get the loan
and second to keep the loan rate low by provided collateral.
I dont want to take money out of the 401k...

Thanks.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >