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Jo
Jo Asked About 'Retirement Planning: IRA and 401K Plans'

IRA and 401k Money Market Insurance

Is money market money insured by any insurance in an IRA or a 401k? If so, is there a limit to the amount covered?

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Answers

Dan
Dan Answered:

The only time funds are protected by the FDIC is if the 401k account is in a bank or Credit Union account.  More than likely your account is with a securities firm and there is no FDIC protection.

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