Case: Retirement Plans/Bankruptcy (Bankr. N.D. Ill.)

A former MetLife employee’s interest in an excess benefit retirement plan isn’t exempt from inclusion in his estate, a bankruptcy court said, in granting summary judgment to the Chapter 7 bankruptcy trustee. The employee failed to properly claim an exemption for the plan when he voluntarily filed for bankruptcy, and he can’t show that any state statute exempts the plan or its proceeds from his estate. The case is Helms v. Metro. Life Ins. Co. (In re O’Malley), 2019 BL 189120, Bankr. N.D. Ill., No. Adversary Proceeding No. 16-00552, 5/23/19.