President Obama creates new 'MyRA' retirement accounts

[Teal Lantern]

Not too keen on any one person making laws up as they go.
Executive orders? Why bother with a Congress, then?

President Obama has signed an executive order creating a new kind of retirement account. The "MyRA" is a starter retirement account someone can open with as little as $5 from their paychecks.

http://www.wfmz.com/news/President-Obam ... index.html

[momopi]

It's too early... they don't expect to finalize the details until Dec this year.

Um, if the rate of returns is similar to G-fund, that's um, 1.89% returns in 2013 and 1.47% in 2012.

[Teal Lantern]

It's too early... they don't expect to finalize the details until Dec this year.

Um, if the rate of returns is similar to G-fund, that's um, 1.89% returns in 2013 and 1.47% in 2012.

Yeah, and like ACA (Obamacare), they'll promote it with great fanfare as doing one thing, then, when the details come out, it'll resemble the original program in name only and not for the better.
Backed by "full faith & credit".
Let's see if it remains voluntary.

The Dangers Of The New MyRA Retirement Account
http://www.forbes.com/sites/nancyanders ... t-account/

Who Most Benefits From MyRAs: Savers Or The US Treasury?
http://danielamerman.com/articles/2014/MyrasC.html