Texas Property Code
§ 42.0021 — ADDITIONAL EXEMPTION FOR CERTAIN SAVINGS PLANS
PR § 42.0021Title 5. EXEMPT PROPERTY AND LIENS · Part A. PROPERTY EXEMPT FROM CREDITORS' CLAIMS · Ch. 42. PERSONAL PROPERTY
Statute text
View on source(a)In this section, "qualified savings plan" means any stock bonus, pension, annuity, deferred compensation, profit-sharing, health, education, or similar plan or account, to the extent the plan or account is exempt from federal income tax or to the extent federal income tax on a person's interest in the plan or account is deferred until actual payment of benefits to the person. A plan or account that is subject to federal income tax is considered to be exempt from federal income tax for purposes of this section if the plan or account is subject to the tax solely under Sections 511 through 514, Internal Revenue Code of 1986. The term includes:
(1)a retirement plan sponsored by a private employer, government, or church;
(2)a retirement plan for self-employed individuals;
(3)a simplified employee pension plan;
(4)an individual retirement account or annuity, including an inherited individual retirement account or annuity;
(5)a Roth IRA, including an inherited Roth IRA;
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Legislative history
Acts 2005, 79th Leg., Ch. 130 (H.B. 330), Sec. 2, eff. May 24, 2005. Acts 2011, 82nd Leg., R.S., Ch. 933 (S.B. 1810), Sec. 1, eff. June 17, 2011. Acts 2013, 83rd Leg., R.S., Ch. 91 (S.B. 649), Sec. 2, eff. September 1, 2013. Acts 2019, 86th Leg., R.S., Ch. 320 (H.B. 2779), Sec. 1, eff. September 1, 2019.