Gladwell v. Reinhart

Justice PARRISH,

opinion of the Court:

INTRODUCTION

T1 Utah Code section 78B-5-505 1 (the exemption statute) provides that a "retirement plan or arrangement that is described in Section 401(a)" of the U.S. Internal Revenue Code (the IRC) is exempt from a debt- or's bankruptcy estate. Urax Ann. § 78B-5-505(1)(a)(xiv) (2008). In this case, we determine whether a retirement plan can be "described in Section 401(a)" of the IRC when it fails to fulfill that section's requirements for tax qualification. In other words, we determine whether the exemption statute requires that a retirement plan be tax…