A pilot program for myRA accounts was started by the Treasury Department in December. The myRAs are Roth IRAs that allow qualifying employees that do not have a workplace retirement account to save up to $15,000 or up to 30 years of savings though an account that only invests in new Treasury security. Pilot program participants will be communicated with by the Treasury to track their experience over the coming months.
See Karen Damato, Signups Begin for New ‘myRA’ Retirement Accounts, The Wall Street Journal, Dec, 23, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
