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If you have not yet begun saving for retirement, a myRA may be a reason to start. “myRA” is an acronym for “my Retirement Account.”
Some advantages to myRAs are that they:
Contributions to your myRA are invested in a U.S. Treasury savings bond. The balance in your account earns interest and is guaranteed to retain its value.
The Department of the Treasury recently added new ways to fund myRAs. As before, you can choose to fund your account from your paycheck by completing a direct deposit authorization form and giving it to your employer.
In addition, you now also have the option of making direct deposits from a checking or savings account or from your federal income tax refund.
To learn more about myRAs and/or to see if one would be a good fit for you, please contact your financial advisor.