Unless stated so clearly,

[bsrsharma]

Unless stated so clearly, most money market funds are not FDIC insured. However, it may be covered by SIPC.

See http://www.sipc.org/how/covers.cfm

I think my IRA would be protected by SIPC; but don’t want to test it! In case of massive failure, I don’t know how well SIPC can hold up. At least FDIC is taxpayer backed.