Ask Experts Questions for FREE Help !
Ask
    SUNDAY344's Avatar
    SUNDAY344 Posts: 1, Reputation: 1
    New Member
     
    #1

    Mar 17, 2014, 08:28 AM
    IRA Traditional/ bank changing rules
    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?
    ebaines's Avatar
    ebaines Posts: 12,130, Reputation: 1307
    Expert
     
    #2

    Mar 17, 2014, 08:35 AM
    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?

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Roth vs Traditional IRA [ 1 Answers ]

My wife left her job, and we want to roll/move her pension into a IRA. I know that if we "roll" it over to a Traditional IRA, that there are no taxes on it, if we get a check and put it into a Roth IRA, than we will get a 20% federal tax on it. My question is, are we better off rolling it over...

Traditional IRA [ 2 Answers ]

You have a MFJ couple that has a combined AGI of $170,000 One spouse is covered by an employers retirement plan and doesn't contribute to a traditional IRA. The other spouse is not covered by a retirement plan and contributes $6000 to a traditional IRA. Does she get to take the $5000 credit and...

Do I have to pay taxes on a traditional IRA rollover to a Bank IRS CD? [ 2 Answers ]

In 2009 I rolled over my traditional IRA to Bank CD IRA. I received a 1099 from the Financial Services that I had the IRA in, and it says it was a normal distribution. Am I going to have to pay taxes on this?

Traditional IRA [ 2 Answers ]

What should I be looking out for when I open a Traditional IRA?


View more questions Search