Supreme Court of the United States

Rousey v. Jacoway

April 4, 2005544 U.S. 320

Summary

The Court held that Individual Retirement Accounts (IRAs) can be exempted from the bankruptcy estate under 11 U.S.C. § 522(d)(10)(E). It concluded that IRAs qualify as similar plans to those listed in the statute because they substitute for wages, and rights to payment are on account of age due to tax penalties on early withdrawals.