EMPLOYEE RETIREMENT PLANS (FSM)

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An employee retirement account or plan set up by an individual or employer for retirement purposes, including IRAs, Keogh plans, and Federal Employee Thrift Savings plans.

Treatment: Excluded Resource

Examples:

• Individual Retirement Account (IRA)

Individual retirement accounts (IRA’s) are tax-preferred accounts set up by an individual for retirement purposes.

Treatment: Excluded Resource*

• Keogh Plans

- Non-contractual Keogh Retirement Plans are tax-preferred accounts set up by an individual for retirement purposes.

 Treatment: Excluded Resource*

- A contractual Keogh Plan is a tax-preferred account set up by an employer that does not allow the employee to withdraw any money.

 Treatment: Excluded Resource

References: RSA 161:2, XIII; RSA 161:4-a, IV; RSA 167:4, I(a); RSA 167:7, IV; 7 CFR 273.8(c)(1), (e)(2), & (e)(19); 7 USC 2014(g)(6)-(7)