MM funds never were intended to carry a guarantee. The Treasury announced that it would begin a temporary one in order to put an end to the panic that was developing after the Reserve Fund broke the buck.
You might want to talk to a CPA before you liquidate your IRA, you’re liable to incur some tax consequences.
Is there any way to get around the tax liability?
I was ready to take all of mine out last year, but the taxes would have eaten up the little profits I’d made since it’s inception.
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That's why I'm waiting until I'm 59.5 years old. At that point the only 'penalty' is standard income tax. Without going into details, I have better places to put my IRA money.