Opinion ID: 759514
Heading Depth: 3
Heading Rank: 1

Heading: Importance of ERISA Qualification

Text: 14 Both parties agree that if the Plan is considered an employee benefit plan under ERISA, then Watson can exclude it in its entirety pursuant to 11 U.S.C. § 541(c)(2). See Patterson v. Shumate, 504 U.S. 753, 112 S.Ct. 2242, 119 L.Ed.2d 519 (1992) (holding that Bankruptcy Code and ERISA establish that the anti-alienation provision in qualified pension plan constitutes restriction on transfer enforceable under applicable nonbankruptcy law for purposes of 11 U.S.C. § 541(c)(2)). 15 If the Plan is not ERISA-qualified, only $100,000 of the total $290,000 in the Plan is exempted under Nevada law from the bankruptcy estate. 3 We now turn to the statute itself and the ancillary regulations.