Because the record does not support the court's conclusion that the funds were reasonably necessary for respondent's retirement needs and because the court improperly ordered payment of attorney fees out of exempt funds, we reverse and remand. The main issue on appeal is the meaning and application of Minn. Stat. 550.37, subd. Minn. Const. art. The policy underlying exemption of retirement income from creditors reflects a well founded desire of the legislature to insure that debtors, despite their debts, will nevertheless have a reasonable means to support themselves and their dependents. The exemption is identical to a federal bankruptcy exemption.
Courts construing the identical federal exemption also focus on the debtor's needs at retirement.
Where the facts indicate that the debtor will be able to replenish the retirement fund, an additional exemption will be disallowed. Respondent presently has substantial debt and liabilities arising out of criminal convictions and civil damages for his sexual abuse of his daughters and other minors. A court has ordered him to pay for his victims' therapy, his children's support, his own treatment, and criminal fines. Respondent presently is unemployed while he attends court-ordered sex offender treatment. Respondent is 44 years old and, prior to his criminal convictions, was a successful anesthesiologist.