On Apr. 16, ARK LEG enacted bill re certain savings plan exemptions.
ARK LEG enacted HB 1752 which aims to exempt certain savings plans from judgment.
Amends Arkansas code ARK LEG 16-66-220 to include so that certain pension, profit-sharing, retirement, savings plans will be exempt from the execution of a judgment.
Execution of a Judgment
Person's vested or unvested right to the assets held in or to receive payments under a qualified savings plan is exempt from attachment, execution, seizure to satisfy debts.
Plan exempt from federal income tax, or deferred until plan is paid out, includes stock, bonus, pension, annuity, deferred compensation, profit-sharing, health, education.
Includes qualified program of any State that meets requirements of 26 USC 529, or a Coverdell education savings account under 26 USC 530, as it existed on Jan. 1, 2025.
Legislative History
On Mar. 12, 2025, bill introduced in House; on Apr. 2, 2025, bill was passed in House.
On Apr. 2, 2025, bill delivered to Senate; on Apr. 9, 2025, bill was passed in Senate.
On Apr. 10, 2025, bill delivered to governor; on Apr. 16, bill HB 1752 became Act 681.
Effectiveness
Act is effective 91 days after legislature adjourned sine die (May 5), so Aug. 4, 2025.
