The Treasury Department announced late last month that it is ending the Obama administration’s myRA program, a savings account designed to help low- and middle-income savers put money away for retirement.
The myRA launched nationwide in 2015 as a spinoff of the Roth IRA. It was positioned as a starter retirement account, giving savers the ability to make contributions directly from their paychecks.
The account had the same income eligibility requirements as a Roth IRA but offered Treasury savings bonds as the only investment option, appealing to savers who feared losing their principal.
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