In the News

Title

Unpacking Obama’s MyRA—and What It Can Do for You

Document Type

Article

Publication Date

4-23-2014

Abstract

By now, many investors and analysts have taken a look at President Obama's MyRA plan and drawn a reasonable conclusion: It won't get retirees through many years of post-work expenses. But then, that's not the MyRA's purpose. The federal government's newest retirement instrument -- its $15,000 cap and 30-year time constraint are in place -- should be primarily thought of as a starting point for low- to middle-income workers who can't access a company-supported plan.