Adkisson's

California Private Retirement Plans

Services and Contact Information

Services

 

Jay D. Adkisson is a California-admitted attorney* who is regularly involved with the planning and litigation of California Private Retirement Plans for appropriate clients, including:

 

  • Plan design and drafting
  • Plan second-opinion review and maintenance check-up
  • Creditor-side judgment enforcement litigation
  • Debtor-side defense litigation
  • Bankruptcy litigation
  • Consulting with existing litigation counsel
  • Expert witness

 

*More on Jay Adkisson generally.

 

Contact

 

Jay D. Adkisson

Phone: 702-953-9617   Fax: 877-698-0678

E-Mail: jay [at] jayad.com

 

*Admitted to practice law and in good standing in Arizona (2012), California (2007), Nevada (2012), Oklahoma (1989), and Texas (2003).

C O M M O N     P A G E     F O O T E R

TEXT OF CCP § 704.115

 

California Code of Civil Procedure § 704.115.

 

     (a) As used in this section, “private retirement plan” means:

 

          (1) Private retirement plans, including, but not limited to, union retirement plans.

 

          (2) Profit-sharing plans designed and used for retirement purposes.

 

          (3) Self-employed retirement plans and individual retirement annuities or accounts provided for in the Internal Revenue Code of 1986, as amended, including individual retirement accounts qualified under Section 408 or 408A of that code, to the extent the amounts held in the plans, annuities, or accounts do not exceed the maximum amounts exempt from federal income taxation under that code.

 

     (b) All amounts held, controlled, or in process of distribution by a private retirement plan, for the payment of benefits as an annuity, pension, retirement allowance, disability payment, or death benefit from a private retirement plan are exempt.

 

     (c) Notwithstanding subdivision (b), where an amount described in subdivision (b) becomes payable to a person and is sought to be applied to the satisfaction of a judgment for child, family, or spousal support against that person:

 

          (1) Except as provided in paragraph (2), the amount is exempt only to the extent that the court determines under subdivision (c) of Section 703.070.

 

          (2) If the amount sought to be applied to the satisfaction of the judgment is payable periodically, the amount payable is subject to an earnings assignment order for support as defined in Section 706.011 or any other applicable enforcement procedure, but the amount to be withheld pursuant to the assignment order or other procedure shall not exceed the amount permitted to be withheld on an earnings withholding order for support under Section 706.052.

 

     (d) After payment, the amounts described in subdivision (b) and all contributions and interest thereon returned to any member of a private retirement plan are exempt.

 

     (e) Notwithstanding subdivisions (b) and (d), except as provided in subdivision (f), the amounts described in paragraph (3) of subdivision (a) are exempt only to the extent necessary to provide for the support of the judgment debtor when the judgment debtor retires and for the support of the spouse and dependents of the judgment debtor, taking into account all resources that are likely to be available for the support of the judgment debtor when the judgment debtor retires. In determining the amount to be exempt under this subdivision, the court shall allow the judgment debtor such additional amount as is necessary to pay any federal and state income taxes payable as a result of the applying of an amount described in paragraph (3) of subdivision (a) to the satisfaction of the money judgment.

 

     (f) Where the amounts described in paragraph (3) of subdivision (a) are payable periodically, the amount of the periodic payment that may be applied to the satisfaction of a money judgment is the amount that may be withheld from a like amount of earnings under Chapter 5 (commencing with Section 706.010) (Wage Garnishment Law). To the extent a lump-sum distribution from an individual retirement account is treated differently from a periodic distribution under this subdivision, any lump-sum distribution from an account qualified under Section 408A of the Internal Revenue Code shall be treated the same as a lump-sum distribution from an account qualified under Section 408 of the Internal Revenue Code for purposes of determining whether any of that payment may be applied to the satisfaction of a money judgment.

 

COURT OPINIONS

 

Published Court Opinions regarding California private retirement plans:

 

In re Daniel, 771 F.2d 1352 (9th Cir., 1985).

In re Bloom, 839 F.2d 1376 (9th Cir., 1988).

In re Crosby, 162 B.R. 276 (Bk.C.D.Cal., 1993).

Yaesu Electronics Corp. v. Tamura, 28 Cal.App.4th 8, 33 Cal.Rptr.2d 283 (1994).

Schwartzman v. Wilshinsky, 50 Cal.App.4th 619, 57 Cal.Rptr.2d 790 (1996).

In re Friedman, 220 B.R. 670 (9th Cir.B.A.P., 1998).

In re Phillips, 206 B.R. 196 (Bk.N.D.Cal., 1997).

In re Lieberman, 245 F.3d 1090 (9th Cir., 2001).

In re Barnes, 275 B.R. 889 (Bk.E.D.Cal., 2002).

In re Stern, 345 F.3d 1036 (9th Cir., 2003).

McMullen v. Haycock, 147 Cal.App.4th 753, 54 Cal.Rptr. 3d 660 (2007).

In re Rucker, 570 F.3d 1155 (9th Cir., 2009).

In re Segovia, 404 B.R. 896 (2009).

In re Simpson, 557 F.3d 1010 (2009).

In re Beverly, 374 B.R. 221 (9th Cir., B.A.P., 2011).

In re Chen, 2011 WL 2358653 (Bk.N.D.Cal., 2011).

Marriage of La Moure, 221 Cal.App.4th 1463, 15 Cal.Rptr.3d 417 (2013).

Salameh v. Tarsadia Hotel, 2015 WL 6028927 (S.D.Cal., 2015).

 

Only published court opinions are included; non-published opinions are not useful as legal precedent and should not be relied upon for any purpose.

 

ARTICLES ON CALIFORNIA PRIVATE RETIREMENT PLANS

 

The California Private Retirement Plan: Separating Fact From Fiction (Jay Adkisson, Forbes.com, Dec. 28, 2015).

 

MAIN SECTIONS OF THIS WEBSITE

MORE INFORMATIONAL WEBSITES BY JAY ADKISSON

 

  • About Jay Adkisson - More about Jay D. Adkisson, background, books, articles, speaking appearances - https://jayadkisson.com/

 

  • Captive Insurance Companies - Licensed insurance companies formed by the parent organization to handle the insurance and risk management needs of the business - https://captiveinsurancecompanies.com/

 

 

  • Collecting On A Judgment - An explanation of common creditor remedies, strategies and tactics to enforce a judgment, including a discussion of common debtor asset protection strategies - https://collectingonajudgment.com/

 

  • Voidable Transactions - Discussion of the Uniform Voidable Transactions Act (a/k/a 2014 Revision of the Uniform Fraudulent Transfers Act) and fraudulent transfer law in general - https://voidabletransactions.com/

 

  • Charging Orders - The confusing remedy against a debtor's interest in an LLC or partnership is explained in reference to the Uniform Partnership Act, the Uniform Limited Partnership Act, and the Uniform Limited Liability Company Act - https://chargingorder.com/

 

  • Protected Series LLCs - An examination of the single most complex statutory legal structure yet created, with particular reference to the Uniform Protected Series Act of 2017 - https://protectedseriesact.com/

 

  • California Enforcement of Judgments Law - Considers the topic of judgment enforcement in California, including the California Enforcement of Judgments Law and other laws related to California creditor-debtor issues - https://calejl.com/

 

  • Anti-SLAPP Laws - A collection of and commentary about Anti-SLAPP laws and significant court decisions on the subject within the United States - https://antislapplaws.com/

 

© 2017 by Jay D. Adkisson. All Rights Reserved. No claim to original government works. The information contained in this website is for general educational purposes only, does not constitute any legal advice or opinion, and should not be relied upon in relation to particular cases. Use this information at your own peril; it is no substitute for the legal advice or opinion of an attorney licensed to practice law in the appropriate jurisdiction. Questions about this website should be directed to jay [at] jayad.com or by phone to 702-953-9617 or by fax to 877-698-0678. This website is https://privateretirementplans.com