Webinar to Explore New Retirement Benefit Options like the myRA Retirement Plan

The “myRA” (“My Retirement Account”) is a new retirement savings account designed for employees who don’t have access to an employer-sponsored 401(k) plan or who aren’t eligible for their employer’s plan, but are looking for a simple, safe, and affordable way to start saving.

The webinar, presented by the U.S. Small Business Administration, will be Friday, September 26 at 1:30 pm ET with speakers from the SBA, the Treasury Department and Small Business Majority.

With the myRA, employees will be able to open an account for as little as $25 and contribute $5 or more every payday. myRA balances will never go down, and there will be no fees. Initially, myRA will be made available through employers and the investment held in the account will be backed by the U.S. Treasury.

For businesses, making myRA available to employees is straight-forward. Treasury will handle account set-up and maintenance and will provide informational materials for business owners to share with their employees. There is no employer-match or contribution. In fact, all that interested employers have to do is to make Treasury-provided program materials available to their employees and set-up ongoing payroll direct deposits into myRA for interested employees. myRA is intended for employees who do not have access to an employer-sponsored plan or who are not eligible for their employer’s plan. myRA is not intended to replace current employer-sponsored retirement plan offerings.

Topics being discussed include:

Overview of myRA
Benefits of the program
Steps for employer adoption

A question and answer period will follow.