[tzs]

Against specifically bankruptcy? Yes. As marcus0x62 already noted they are not covered by ERISA which is what deals with 401(k) plans.

However, they are covered under the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. This covers up to $1 million dollars. (I've seen something that suggests if the IRS is a rollover IRA rolled over from an ERISA-qualified plan there might be no limit, but haven't looked to see if that is right).

Note that this just covers bankruptcy, whereas ERISA also covers seizure by creditors, so the 401(k) is better in this regard since you would actually have to declare bankruptcy in the case of an IRA. States usually provide protection against creditors. See the link in marcus0x62's comment.

Also if you do something stupid like use your IRA as security for a loan the BAPCPA protections will not apply. I've also seen something that said if you borrow money from your IRA it can reduce your BAPCPA protection.