Today, the Supreme Court ruled that an individual's creditors may not seize one's IRA. IRAs now join pensions, 401(k)s, and Social Security benefits as assets protected from seizure.
The Supreme Court's logic, as articulated by Clarence Thomas (!) is that since IRAs hold significant financial penalties for withdrawals before age 60, and are of limited means (up to $4,000 annually can be deposited), they are worthy of the same protections as the above retirement plans.
IRAs are the only saving plans available to the self-employed, small business owners, and those in-between jobs.
Read a full article about the ruling and the case involved here.