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Obama Releases MyRA for those with no access to a 401k

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The MYRA is going to be a savings account for individuals who work for companies that don't offer employer-sponsored plans, such as a 401K. This will be a starter savings vehicle and not designed to solve the whole retirement savings problem, according to Jamie Hopkins, Forbes Contributor, Associate Professor of Taxation at the American College and Associate Director at the New York Life Center for Retirement Income.