Jan. 28 (Bloomberg) — President Barack Obama offered moreAmericans the chance to save for retirement through payrolldeductions with a plan for new government-sponsored savingsaccounts.
The accounts, which Obama announced tonight in a State of theUnion Address that concentrated on expanding economic opportunity,will be available to workers who don't have access to a 401(k)plan, administration officials said.
The “MyRA” accounts, similar to an individual retirementaccount, will provide “a new way for working Americans to starttheir own retirement savings,” Obama said in the text of the speechreleased by the White House.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
