Most people know that saving for retirement is important, but many Americans don’t have an easy way to get started. A recent report from the Pew Charitable Trusts found that more than 30 million full-time employees in the United States don’t have access to retirement savings plans at work. Other barriers, like account fees and minimum contribution requirements, can make it even more difficult for people to start saving.

Now, there’s an easy way to save that can help eliminate these common barriers. myRA was developed by the U.S. Department of the Treasury to make saving for retirement simple, safe, and affordable.


  • It costs nothing to open an account and there are no fees
  • Savers can contribute any amount they choose ($5, $50, $500 – whatever fits your budget!)¹
  • Withdraw the money you put into your account at any time without paying tax and penalty.
  • The account safely earns interest2

Saving for retirement has never been easier

Getting started with myRA is quick and easy. In fact, it only takes about 10 minutes to enroll. Each saver will need their social security number, driver’s license or other ID, and the name and birthdate of at least one beneficiary.

myRA also gives people the flexibility to choose how they want to fund their account. Savers can contribute to a myRA account from a paycheck via direct deposit, or from a checking or savings account. During tax season, savers can choose to direct some or all or their federal tax refund dollars to their myRA accounts.

See how others have started saving with myRA

Many people have already started taking steps to secure a brighter future by saving with myRA.

Lakesha Douglas is a store manager at E-Z Mart, a convenience store chain in Texarkana, Texas. She hadn’t thought much about retirement until she heard about myRA. Her growing family led her to recognize the need to plan for retirement, and myRA was an easy way to start. “I feel like I’m taking a step in the right direction with myRA,” says Lakesha.

Like Lakesha, Mariela Ortiz was introduced to myRA by her employer. An employee at Coral Gables La Salle Cleaners near Miami, Florida, Mariela had been thinking about saving for a long time, but found that getting started was difficult. She decided to open a myRA account after her human resources manager told her about the program, and since that time has been saving a small amount from her paycheck each week. “It is important for me because it’s my future,” she says.

Help people start saving today

Talk to your clients and help them start saving for a brighter future with myRA. Visit for more information and to download free materials you can share.

Annual and lifetime contribution limits and annual earned income limits apply, as do conditions for tax-free withdrawal of interest. To learn about key features of a Roth IRA and for other requirements and details, visit
2 Accounts earn interest at the same rate as investments in the Government Securities Fund, which earned 2.04 percent in 2015 and had an average annual return of 2.94 percent over the ten-year period ending December 2015.

Guest Contributor: U.S. Department of the Treasury, myRA

July 18, 2016

Encourage Your Clients to Save with MyRA

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