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PRINTER'S NO. 321
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
324
Session of
2017
INTRODUCED BY KAMPF, SCHWEYER, PICKETT, DUNBAR, MILLARD,
FREEMAN, O'NEILL, M. QUINN, KORTZ, HENNESSEY, HELM, EVERETT,
MALONEY AND FEE, FEBRUARY 3, 2017
REFERRED TO COMMITTEE ON JUDICIARY, FEBRUARY 3, 2017
AN ACT
Amending Title 42 (Judiciary and Judicial Procedure) of the
Pennsylvania Consolidated Statutes, in judgments and other
liens, further providing for exemption of particular
property.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 8124(b)(1) of Title 42 of the
Pennsylvania Consolidated Statutes is amended by adding a
subparagraph to read:
ยง 8124. Exemption of particular property.
* * *
(b) Retirement funds and accounts.--
(1) Except as provided in paragraph (2), the following
money or other property of the judgment debtor shall be
exempt from attachment or execution on a judgment:
* * *
(x) An allocated or unallocated group annuity
contract issued to an employer or a pension plan for the
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purpose of providing retirement benefits to employees or
retirees of the employer under a defined benefit plan,
which retirement benefits:
(A) Were protected under the Employee Retirement
Income Security Act of 1974 (Public Law 93-406, 88
Stat. 829) or the Federal Pension Benefit Guaranty
Corporation prior to the effective date of the group
annuity contract.
(B) Will not be protected under the Employee
Retirement Income Security Act of 1974 or the Federal
Pension Benefit Guaranty Corporation on and after the
effective date of the group annuity contract.
* * *
Section 2. This act shall take effect in 60 days.
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