Massachusetts Retirement Asset Protection Laws

Massachusetts laws protect the following retirement assets from creditors:

• annuities, pension, profit-sharing, or other ERISA retirement plan or any annuity or similar contract purchased with assets of the foregoing, or any Keogh plans, simplified employee pension (SEP) plan, or IRA, except to satisfy a court order concerning divorce, alimony, or child support, or a court order requiring the debtor to satisfy a monetary penalty or make restitution to the victim of a crime;
• individually maintained retirement plans and amounts held by a trustee in a qualified pension, except for sums deposited in excess of seven percent of an individual's total income within five years of a bankruptcy petition or judgment;
• cooperative bank employees' retirement benefits, except for support obligations; and
• credit union employees retirement association benefits, except to satisfy support obligations.