myRA: Making Retirement Planning Work Your Small Business
Posted by William Byrnes on August 6, 2014
This free webinar will focus on “myRA” (“My Retirement Account”), a new retirement savings account for individuals looking for a simple, safe, and affordable way to start saving. Savers will be able to open an account for as little as $25 and contribute $5 or more every payday. myRA balances will never go down, and there will be no fees. Initially, myRA will be made available through employers and the investment held in the account will be backed by the U.S. Treasury.
- Date:Tue, Aug 12, 2014
- Time:01:00 PM EDT
- Duration:1 hour
- Host(s):United States Treasury Department, Small Business Administration
- Presenter: Cynthia Egan – Senior Advisor, Office of Domestic Finance, U.S. Department of the Treasury
For businesses, making myRA available to employees is straight-forward. Treasury will handle account set-up and maintenance and will provide informational materials for business owners to share with their employees. There is no employer-match or contribution. In fact, all that interested employers have to do is to make Treasury-provided program materials available to their employees and set-up ongoing payroll direct deposits into myRA for interested employees. myRA is intended for employees who do not have access to an employer-sponsored plan or who are not eligible for their employer’s plan. myRA is not intended to replace current employer-sponsored retirement plan offerings.
Topics being discussed include:
- Overview of myRA
- Benefits of the program
- Steps for employer adoption
A question and answer period will follow.