2. Sorry,
that is incorrect.
The correct answer is "True." 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.)
Back
to Quiz |
