Rousey v. Jacoway
| Rousey v. Jacoway | |
|---|---|
| Argued December 1, 2004 Decided April 4, 2005 | |
| Full case name | Richard Gerald Rousey, et ux., Petitioners v. Jill R. Jacoway |
| Citations | 544 U.S. 320 (more) 125 S. Ct. 1561; 161 L. Ed. 2d 563; 2005 U.S. LEXIS 2933; 73 U.S.L.W. 4277; 2005-1 U.S. Tax Cas. (CCH) ¶ 50,258; 95 A.F.T.R.2d (RIA) 1716; 34 Employee Benefits Cas. (BNA) 1929; Bankr. L. Rep. (CCH) ¶ 80,263; 44 Bankr. Ct. Dec. 144; 18 Fla. L. Weekly Fed. S 223 |
| Case history | |
| Prior | Federal Bankruptcy Court for the Western District of Arkansas sustains Jacoway's motion to absorb Rousey's IRA into the bankruptcy estate. Bankruptcy Appellate Panels affirms. Eight Circuit Court of Appeals affirms. |
| Holding | |
| IRAs fulfill both of the Bankruptcy code's Section 522(d)(10)(E) requirements that (1) the right to receive payment must be from a stock bonus, pension, profit-sharing, annuity, or similar plan or contract and (2) the right to receive payment must be on account of illness, disability, death, age, or length of service. | |
| Court membership | |
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| Case opinion | |
| Majority | Thomas, joined by unanimous |
| Laws applied | |
| Title 11 of the United States Code | |
Rousey v. Jacoway, 544 U.S. 320 (2005), was a bankruptcy case decided by the United States Supreme Court in which the Court held that Individual Retirement Accounts (IRAs) qualify for certain exemptions under Title 11 of the United States Code.