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ALEXANDRIA, Va.-As retirement account protection increased, NCUA issued a statement announcing that new signage would be available shortly. Federal deposit insurance retirement account coverage increased on April 1 to $250,000 and other coverage will potentially be increasing five years from now due to the new deposit insurance reform law. Though increased retirement account protection became effective, changes to insurance signs and publications were not required immediately. NCUA was working to update its publications, like Your Insured Funds and graphics by the end of last week. The agency expects new printed materials to be available by mid-May and revisions to the share insurance calculator on NCUA’s Web site will be made as soon as possible. The interim final rule by NCUA also includes pass-through coverage on employee benefit plans while limiting acceptance of shares in employee benefit plans to insured credit unions that are well or adequately capitalized and coverage for qualified tuition programs, commonly referred to as 529 plans, and share accounts denominated in foreign currencies. The 60-day comment period to the interim final rule issued at the March NCUA Board meeting is still open.

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