In the State of the Union, the President announced that he will use his executive authority to direct Treasury to create “myRA” – a new simple, safe, and affordable “starter” retirement savings account that will help millions of Americans begin to save for retirement.
"Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: myRA. It’s a new savings bond that encourages folks to build a nest egg. myRA guarantees a decent return with no risk of losing what you put in." -- President Obama, State of the Union 2014
Stay tuned to Treasury.gov for more information on the program this week.