News & Analysis as of

MyRA

myRA put out to pasture

by Ary Rosenbaum on

President Obama’s myRA program was put out to pasture by the Trump administration because of high government cost and low participation....more

Treasury Softly Launches myRA Program

In December 2014, the Treasury Department opened the myRA (my Retirement Account) program to employers and employees. President Obama announced the myRA program in his 2014 State of the Union Address. The program is intended...more

Federal Government Creates New Retirement Savings Option: MyRA

In his 2014 State of the Union message, President Obama announced a new retirement savings program for people who do not currently have an employer-sponsored plan. The new investment product, called myRA, is a starter savings...more

MyRA: What Employers Need to Know about New Savings Option

by King & Spalding on

In his State of the Union address on January 28, 2014, President Obama announced the creation of a new retirement savings option. The "my Retirement Account" or "myRA," which will be developed by the U.S. Department of...more

MyRA Will Offer Retirement Accounts to Employees Without Access Through Employers

by Best Best & Krieger LLP on

It is estimated that nearly half of American employees do not have access to retirement plans sponsored by their employers. President Obama announced in his State of the Union address that he would be ordering the Department...more

U.S. Department of Treasury Directed to Create "myRA"

by Best Best & Krieger LLP on

New Retirement Savings Account Aimed at those Without Access to Such Plans Through Their Employer - President Obama announced in his State of the Union address that he would be ordering the Department of the Treasury...more

MyRA: A nice idea, but it won’t become popular

by Ary Rosenbaum on

Regardless of which side of the political aisle created it, I like any product or plan that allows rank and file employees to save for retirement. President Obama made good on his State of the Union speech promise by...more

President’s New “MyRA” Initiative: the Good, the Bad, and the Unknown

by Partridge Snow & Hahn LLP on

In the State of the Union Address, President Obama announced that he has directed the IRS, through executive action, to create a new savings vehicle called “MyRA” (pronounced like “IRA”). While details are scarce, it appears...more

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