Category Archives: NerdWallet

myRA: What you need to know by Rob Riedl

1. What is a myRA? The myRA (rhymes with IRA) is a new workplace retirement savings account discussed by President Obama in the State of the Union address and subsequently authorized by executive order. The administration hopes that employers who currently don’t offer a workplace retirement plan will make myRAs available to their employees. Only limited details are currently available. The myRA is a regular Roth IRA with some special features. Your contributions are made on an after-tax basis...

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