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FDIC Consumer News - Spring 1999

Important Update: Changes in FDIC Deposit Insurance Coverage

The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.

2. If you picked "True" you are correct. Individual Retirement Accounts (both "traditional" and "Roth" IRAs) are insured to $100,000 separately from your non-retirement accounts at the same bank. (Note:
The deposit insurance rules for retirement accounts and pension savings can be confusing. For example, the rules treat traditional and Roth IRAs differently than employer-sponsored 401(k) retirement plans that may be deposited in the same bank. If all your retirement-related money in the same bank is near or above $100,000, you may want to consult the Division of Compliance and Consumer Affairs.)

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Last Updated 07/28/1999 communications@fdic.gov