In December 2014, the federal government implemented the My Retirement Account (myRA) program.  The myRA was a type of Roth IRA account sponsored by the United States Treasury.  Funds in the myRA could only be invested in the "G" option of the government's Thrift Savings Plan.  Although this reduces risk, it also reduces upside.  The myRA funds are funded with after-tax dollars and, therefore, the funds can be used for emergencies without penalty.  Once the balance reaches $15,000, the funds must roll over to another retirement account. 

 

The program was terminated on September 17, 2018.  We need to bring it back.

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