The myRA
(rhymes with IRA) is a new workplace retirement savings account discussed by President
Obama in the State of the Union address, and subsequently authorized by
executive order. The administration hopes that employers who currently don't
offer a workplace retirement plan will make myRAs available to their employees. The myRA is a regular Roth IRA with some special
features. Your contributions are made on an after-tax basis, through payroll
deduction.
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the Presidential Memorandum to the Treasury