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I did check with my CUs' websites. They both seem to offer IRA CDs. If it's a CD, how am I investing in anything I like?

Because you are choosing where to open your IRA. If you want to invest your IRA money in CDs, then open your IRA at a bank or Credit Union. If you want to invest your IRA money in mutual funds, open an IRA with the mutual fund company. If you want to invest in stocks or bonds, open an IRA with a broker.

You have complete freedom here. You can have as many IRAs as you'd like, to invest in whatever you'd like.

Fees - I'm guessing I will have to contact the 4 different companies that the hospital deals with to find out their fees. I know you said to say "no" to fees, but what kinds of fees should I ask about?

Take a look at that post I linked to. There's a good listing of the fees to watch out for there.

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