I live in Pennsylvania. My Trad. IRA at local bank.. has offered me a buy out and I can no longer contribute. This acct gets 8%! The buy out requires me to roll over amt with buy out amt included into a new 1.5% IRA with them. I will lose money with this arrangement. Can the bank forfeit the acct and stop the growth if I turn down the buy out?

What type of investement is your IRA invested in? Is it a CD (certificate of deposit) that earns 8%? If so, when does the CD mature?