Inherited IRA for minor in interest-bearing federally insured account? Do any financial institutions support this?

Question

Some minors were listed as beneficiaries on a 457 plan and the plan owner passed away such that the minors inherited it. The local court requires that the money be held in a zero-principal-risk vehicle (i.e. federally-insured, interest-bearing), and since it was a 457 plan (i.e. tax deferred), it's going to be rolled into an inherited/stretch IRA. Do any institutions support something like this or is this too uncommon of a scenario and IRAs have to be in something else like stocks / funds / etc.?

Answer 1

My local credit Union has insured IRA accounts or IRA certificates that get the same low interest rates that non-IRA accounts receive. They get NCUA insurance, which is the equivalence of FDIC insurance.