Schwartzman

This is an appeal from an order made after judgment, by which the court below denied appellant’s claim of exemption as to all funds held in his individual retirement account (IRA), except an amount determined to be required for the payment of taxes, and as to all employee contributions and matching employer contributions held in the 40IK profit-sharing account established by appellant’s employer. Appellant seeks reversal on the grounds that the trial court’s decision is not supported by substantial evidence and that the court erred in interpreting the terms “self-employment plan” and “individual retirement account” in Code of Civil Procedure section 704.115, subdivision (a)(3). The court held that the statute included employee contributions, and that federal law prohibits execution upon Employee Retirement Income Security Act (ERISA) qualified retirement plans such as the profit-sharing plan in this case.

For the reasons set out below, we affirm the judgment as it relates to appellant’s IRA, and reverse as it relates to the employer’s profit-sharing plan. We do not need to reach or discuss the ERISA issue.

Factual and Procedural History

Judgment was entered against…