myRA | Ed Slott and Company, LLC

myRA

Say Goodbye to the myRA Account

On July 28, the Treasury Department announced that it was ending the myRA program. The Department issued a very brief statement saying that as part of the Administration’s effort to assess existing programs and promote a more effective government it was determined that this program was not “cost effective” due to its low enrollment.

State and City-Run IRA Plans Are Not Going Away

On April 13, President Trump signed into law legislation that blocked Obama-era Department of Labor (DOL) regulations encouraging the establishment of IRA plans run by cities and municipalities. On May 17, he signed similar legislation applying to state-run IRAs. While these new developments may make the road ahead for both city and state run IRA plans more difficult, these plans are not going away.

Department of Labor Clears Way for State-Run IRAs

Your state may soon be getting into the IRA business. The Department of Labor (DOL) removed a major hurdle recently, when it issued final rules for state-run IRA programs. The final rules give states a safe harbor from Employee Retirement Income Security Act (ERISA) for state-run IRAs if certain conditions are met.

5 Reasons Why Millennials Should Go with a Roth IRA

If you are a young worker, you, like many other members of the millennial generation, may be juggling student loans and expensive rent. Retirement? That is likely the last thing on your mind, although you may have a sneaking suspicion that the generous pensions that older generations enjoy probably will not be there for you. What can you do now to save for a more secure retirement? Well, for many millennials the Roth IRA is the way to go. Here are 5 reasons why.

myRAs Are Now Available to More Savers

If you are just starting to save for your retirement or have a family member who is wondering what steps to take for a secure retirement, the recent announcement from the Treasury Department expanding the myRA program is important news. Here's how you can utilize them.

With a MyRA, You Can Save and STILL Have a Life in Your 20s

An article titled “If You Have Savings In Your 20s, You’re Doing Something Wrong” has recently gone viral. The article, which got over two million likes on Facebook, suggests that saving for your future in your twenties is a bad idea. It suggests that if you are in your twenties, you would be better off going out, spending money and enjoying life rather than saving for the future. We explain why you don't have to take an all-or-nothing approach to savings decisions in your 20s.

myRAs - An Alternative Retirement Plan for Small Business

MyRAs are a retirement savings option for those who do not have a retirement plan at work or those who want to save only small amounts from their paychecks. IRA Technical Expert Beverly DeVeny discusses their benefits.

New for 2015 - Changes in the Retirement Planning World

2015 has brought several important changes in the retirement planning world. From the once-per-year IRA rollover rule to QLACs and myRAs, IRA Technical Expert Beverly DeVeny highlights the key changes you must be aware of to retain current clients and capture new business in the new year.

What Some Financial Advisors Are Getting Wrong About myRAs

Last week President Obama delivered his State of the Union address to the nation and introduced us all to a new type of retirement account, the myRA. Since then, the ins and outs of the new accounts have been minced and parsed in just about every way imaginable. Click to find out what some advisors are getting wrong about myRAs.

More myRA Coverage: Analysis on CNBC and Nightly Business Report (PBS)

myRA CNBC analysis jeffrey levine
Below we share with our readers the two videos as a continuation of yesterday's myRA coverage, which included our detailed analysis of the retirement plan proposal with videos and popular tweets incorporated.

Content Citation Guidelines

Below is the required verbiage that must be added to any re-branded piece from Ed Slott and Company, LLC or IRA Help, LLC. The verbiage must be used any time you take text from a piece and put it onto your own letterhead, within your newsletter, on your website, etc. Verbiage varies based on where you’re taking the content from.

Please be advised that prior to distributing re-branded content, you must send a proof to matt@irahelp.com for approval.

For white papers/other outflow pieces:
Copyright © [year of publication], [Ed Slott and Company, LLC or IRA Help, LLC - depending on what it says on the original piece] Reprinted with permission [Ed Slott and Company, LLC or IRA Help, LLC - depending on what it says on the original piece] takes no responsibility for the current accuracy of this information.

For charts:
Copyright © [year of publication], Ed Slott and Company, LLC Reprinted with permission Ed Slott and Company, LLC takes no responsibility for the current accuracy of this information.

For Slott Report articles:
Copyright © [year of article], Ed Slott and Company, LLC Reprinted from The Slott Report, [insert date of article], with permission. [Insert article URL] Ed Slott and Company, LLC takes no responsibility for the current accuracy of this article.

Please contact Matt Smith at matt@irahelp.com or (516) 536-8282 with any questions.

 

Find members of Ed Slott's Elite IRA Advisor GroupSM in your area.
We neither keep nor share your information entered on this form.
 

I agree to the terms and services:

You may review the terms and conditions here.