The Act 2 Column: The myRA idea? Starting a savings habit
Just in case you thought there were not enough retirement accounts to choose from, along comes President Barack Obama’s latest entry in the crowded category. His “myRA” (rhymes with IRA and looks like a misstyped woman’s name) is supposed to be a “starter” retirement account for workers who do not currently have an employer- based plan available and whose small contributions to a traditional or Roth IRA would be eaten up by investment fees. (About half of all workers and 75 percent of part-time workers lack access to employer-sponsored retirement plans, according to the White House.) Read more…
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