513.430. Property exempt from attachment--benefits from certain employee plans, exception--bankruptcy proceeding, fraudulent transfers, exception--construction of section.
Property exempt from attachment--benefits from certain employeeplans, exception--bankruptcy proceeding, fraudulent transfers,exception--construction of section.
513.430. 1. The following property shall be exempt from attachmentand execution to the extent of any person's interest therein:
(1) Household furnishings, household goods, wearing apparel,appliances, books, animals, crops or musical instruments that are heldprimarily for personal, family or household use of such person or adependent of such person, not to exceed three thousand dollars in value inthe aggregate;
(2) A wedding ring not to exceed one thousand five hundred dollars invalue and other jewelry held primarily for the personal, family orhousehold use of such person or a dependent of such person, not to exceedfive hundred dollars in value in the aggregate;
(3) Any other property of any kind, not to exceed in value sixhundred dollars in the aggregate;
(4) Any implements or professional books or tools of the trade ofsuch person or the trade of a dependent of such person not to exceed threethousand dollars in value in the aggregate;
(5) Any motor vehicle in the aggregate, not to exceed three thousanddollars in value;
(6) Any mobile home used as the principal residence but not on orattached to real property in which the debtor has a fee interest, not toexceed five thousand dollars in value;
(7) Any one or more unmatured life insurance contracts owned by suchperson, other than a credit life insurance contract;
(8) The amount of any accrued dividend or interest under, or loanvalue of, any one or more unmatured life insurance contracts owned by suchperson under which the insured is such person or an individual of whom suchperson is a dependent; provided, however, that if proceedings under Title11 of the United States Code are commenced by or against such person, theamount exempt in such proceedings shall not exceed in value one hundredfifty thousand dollars in the aggregate less any amount of property of suchperson transferred by the life insurance company or fraternal benefitsociety to itself in good faith if such transfer is to pay a premium or tocarry out a nonforfeiture insurance option and is required to be sotransferred automatically under a life insurance contract with such companyor society that was entered into before commencement of such proceedings.No amount of any accrued dividend or interest under, or loan value of, anysuch life insurance contracts shall be exempt from any claim for childsupport. Notwithstanding anything to the contrary, no such amount shall beexempt in such proceedings under any such insurance contract which waspurchased by such person within one year prior to the commencement of suchproceedings;
(9) Professionally prescribed health aids for such person or adependent of such person;
(10) Such person's right to receive:
(a) A Social Security benefit, unemployment compensation or a localpublic assistance benefit;
(b) A veteran's benefit;
(c) A disability, illness or unemployment benefit;
(d) Alimony, support or separate maintenance, not to exceed sevenhundred fifty dollars a month;
(e) Any payment under a stock bonus plan, pension plan, disability ordeath benefit plan, profit-sharing plan, nonpublic retirement plan or anyplan described, defined, or established pursuant to section 456.072, RSMo,the person's right to a participant account in any deferred compensationprogram offered by the state of Missouri or any of its politicalsubdivisions, or annuity or similar plan or contract on account of illness,disability, death, age or length of service, to the extent reasonablynecessary for the support of such person and any dependent of such personunless:
a. Such plan or contract was established by or under the auspices ofan insider that employed such person at the time such person's rights undersuch plan or contract arose;
b. Such payment is on account of age or length of service; and
c. Such plan or contract does not qualify under Section 401(a),403(a), 403(b), 408, 408A or 409 of the Internal Revenue Code of 1986, asamended, (26 U.S.C. 401(a), 403(a), 403(b), 408, 408A or 409);
except that any such payment to any person shall be subject to attachmentor execution pursuant to a qualified domestic relations order, as definedby Section 414(p) of the Internal Revenue Code of 1986, as amended, issuedby a court in any proceeding for dissolution of marriage or legalseparation or a proceeding for disposition of property followingdissolution of marriage by a court which lacked personal jurisdiction overthe absent spouse or lacked jurisdiction to dispose of marital property atthe time of the original judgment of dissolution;
(f) Any money or assets, payable to a participant or beneficiaryfrom, or any interest of any participant or beneficiary in, a retirementplan or profit-sharing plan that is qualified under Section 401(a), 403(a),403(b), 408, 408A or 409 of the Internal Revenue Code of 1986, as amended,except as provided in this paragraph. Any plan or arrangement described inthis paragraph shall not be exempt from the claim of an alternate payeeunder a qualified domestic relations order; however, the interest of anyand all alternate payees under a qualified domestic relations order shallbe exempt from any and all claims of any creditor, other than the state ofMissouri through its division of family services. As used in thisparagraph, the terms "alternate payee" and "qualified domestic relationsorder" have the meaning given to them in Section 414(p) of the InternalRevenue Code of 1986, as amended.
If proceedings under Title 11 of the United States Code are commenced by oragainst such person, no amount of funds shall be exempt in such proceedingsunder any such plan, contract, or trust which is fraudulent as defined insection 456.630, RSMo, and for the period such person participated withinthree years prior to the commencement of such proceedings. For thepurposes of this section, when the fraudulently conveyed funds arerecovered and after, such funds shall be deducted and then treated asthough the funds had never been contributed to the plan, contract, ortrust;
(11) The debtor's right to receive, or property that is traceable to,a payment on account of the wrongful death of an individual of whom thedebtor was a dependent, to the extent reasonably necessary for the supportof the debtor and any dependent of the debtor.
2. Nothing in this section shall be interpreted to exempt fromattachment or execution for a valid judicial or administrative order forthe payment of child support or maintenance any money or assets, payable toa participant or beneficiary from, or any interest of any participant orbeneficiary in, a retirement plan which is qualified pursuant to Section408A of the Internal Revenue Code of 1986, as amended.
(RSMo 1939 § 1323, A.L. 1982 S.B. 490, A.L. 1992 S.B. 447, A.L. 1999 H.B. 857, A.L. 2000 H.B. 1808, A.L. 2001 H.B. 738 merged with S.B. 186, A.L. 2003 S.B. 552, A.L. 2004 H.B. 959 merged with S.B. 1211)Prior revisions: 1929 § 1159; 1919 § 1610; 1909 § 2179
(1992) Where statute permits exemption of pension plan benefits of the debtor from the bankruptcy estate, the federal Employee Retirement Income Security Act (ERISA) does not preempt state law. In re Vickers, 954 F.2d 1426 (8th Cir.).