Q: Can I protect my retirement income?

In a Florida bankruptcy, the answer is a resounding YES!

Social Security is 100% protected in bankruptcy (Fla. Stat. Ann. 222.201 and 11 U.S.C. 522(d)(10)(A)).

Retirement benefits of teachers (Fla. Stat. Ann. 238.15), public employees ((Fla. Stat. Ann. 121.131, 121.055(6)(e)), county and state officers and employees (Fla. Stat. Ann. 122.15), firefighters (Fla. Stat. Ann. 175.241) , and police officers (Fla. Stat. Ann. 185.25) are all 100% protected.

Retirement pension and profit-sharing plans, 401Ks qualified under the Internal Revenue Code are all 100% protected (Fla. Stat. Ann. 222.21(2)).

Pension benefits received within three months of the bankruptcy filing if needed for support) will be protected (Fla. Stat. Ann. 222.21(1).

Annuities and payments and cash value of life insurance policies are 100% protected (Fla. Stat. Ann. 222.14).


Disclaimer: The Law Offices of Michael E. Zapin is a debt relief agency and we help our clients file for bankruptcy relief.

The materials and discussions on this website are for informational purposes only and not intended to be legal advice to you. Most of the information on this website is based on Florida law. Laws are not static, they are fluid. Legislatures periodically change dollar values in laws relevant to bankruptcy. Though we strive to remain current on the law, always check primary sources for the most recent values or developments.  Laws in your home state may vary. Contact a competent local professional for actual legal advice or ask us for a referral.