General Laws of Massachusetts - Chapter 171 Credit Unions - Section 84 Credit Union Employees Retirement Association; tax exemption; attachment

Section 84. The property of the association, the portion of the wages or salary of any employee deducted or to be deducted under sections eighty-two and eighty-three, the right of an employee to an annuity or pension and all his rights in the funds of the association, shall be exempt from taxation and from the operation of any law relating to insolvency, and shall not be attached or taken on execution or other process to satisfy any debt or liability of the association, a participating credit union or any employee member of the association. No assignment of any right in or to said funds or of any pension or annuity payable under section eighty-two shall be valid.

Nothing in this section shall be construed to prevent an employee’s annuity or pension from being attached, taken on execution, assigned or subject to other process to satisfy a support order under chapter two hundred and eight, two hundred and nine, or two hundred and seventy-three. Section:  Previous  75A  75B  76  77  78  78A  78B  79  80  80A  80B  81  82  83  84

Last modified: September 11, 2015