In New York, retirement pensions are generally exempt fro execution or restraint. I am not familiar with Georgia law. You should consult with a Georgia attorney.
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Assuming it is an ERISA qualified pension plan, then the plan is protected in New York. see New York Civil Practice Law and Rules "CPLR", section 5205. The monies in the plan would be protected 100% subject to some exceptions, such if the contributions are deemed fraudulent conveyances or were made after the date that is 90 days before the interposition of the claim on which such judgment was entered. In terms of distributions Further, in New York, 90 percent of the distributions are exempt, unless a court would deem them not be reasonably necessary for your support. I I would recommend that you keep any distributions you may receive in a separate account. Further, as you are considering moving and you may have other property exposed that may not be exempt, I would recommend that you consult a New York bankruptcy and debt attorney who can evaluate your particular situation and make a recommendation that makes sense for you. Best of luck, Barbie D. Lieber
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Retirement pensions are generally exempt in NY.
I am a former federal and State prosecutor and have been handling criminal defense and personal injury cases for over 18 years. The above answer, and any follow up comments or emails, is for informational purposes only and not meant as legal advice.
Retirement pensions are generally included in the class of assets exempt from levy.
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