An important note for you.
If your employer has a payroll account at a bank that exceeds 100,000 in cash, anything over the100,000 is at risk if the bank that manages your payroll pulls an IndyMac and goes broke.
Ask your employer today if there’s a backup plan to ensure that payroll funds are covered by FDIC insurance (kept in accounts less than $100K in cash) – because if your bank goes belly up and your payroll account is over the insurance limit, your paycheck goes with it.
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