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Banks overstate retirement gains tied to high rates
AP analyzes ads promising million dollar retirements from IRAs and Keogh plans and notes rates guaranteed for seven years may drop, altering future earnings. FDIC official questions reliability. experts warn projections may mislead savers as SEC only guards securities.
MENTIONED IN THIS ARTICLE
John Cunniff
New York
Treasury
Roger Hood
Federal Deposit Insurance Corp
FDIC
John Wright
Pensions and Trusts
Securities and Exchange Commission
SEC
Keogh