Treasury Launches myRAs Nationwide

With the initial pilot phase of the program concluded, the Treasury has announced that myRAs (my Retirement Accounts) are now available nationwide. A myRA is a Roth IRA with Roth IRA annual contribution limits ($5,500 for 2015, $6,500 if age 50 by 12/31/15) and income eligibility limits [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][i.e., available to those with annual taxable income of less than $131,000 (individuals) or $193,000 (couples) in 2015]. Key features include the ability to open an account and contribute small amounts through payroll direct deposits, bank drafts, or tax refund direct deposits; no fees; balances backed by the U.S. Treasury; and account portability. People can get information and sign up for an account at myRA.gov . If you have any questions, please contact your Linkenheimer CPA.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]