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FDIC Consumer News
Important Update: FDIC
Insurance for Certain Retirement Deposits
Increased
to $250,000
On April 1, 2006, the deposit insurance coverage for certain retirement accounts
increased to $250,000, up from $100,000 previously. The basic insurance
coverage for other deposit accounts remains at $100,000 per depositor. For
more information, go to www.fdic.gov/deposit/deposits/index.html or
call toll-free 1-877-ASK-FDIC (1-877-275-3342) Monday through Friday, 8:00 a.m.
to 8:00 p.m.,
Eastern Time. For the hearing-impaired, the number is 1-800-925-4618. |
Winter 2003/2004
Test Your Deposit Insurance IQ
6. If you picked "False" you are correct.
All of your self-directed retirement accounts at the same insured bank (self-directed means that you decide where the money is deposited) are added together and the total is insured up to $100,000. Opening multiple IRAs or adding beneficiaries will not increase insurance coverage.
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