According to CNN.com, O.J. Simpson draws $25,000 a month on the $4 million pension set up when the former pro football star, actor and ad pitchman was making millions. Is this legal? In a word, "Yes"! Under federal law, pension plans, IRAs, 401k's, and SEPs are protected from creditor attachment. Thus, the more you dump into your plan, the more cash you have protected from creditors.
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