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Investing in People, Strengthening Communities

US Treasury Officially Launches myRA with Additional Ways to Fund the Accounts

The US Department of the Treasury recently announced the official launch of myRA, a new starter retirement savings account designed for the many American workers who don’t have access to a retirement savings plan through work or haven’t found an easy way to start saving.

US Treasury Officially Launches myRA with Additional Ways to Fund the Accounts

The US Department of the Treasury recently announced the official launch of myRA, a new starter retirement savings account designed for the many American workers who don’t have access to a retirement savings plan through work or haven’t found an easy way to start saving.

myRA offers three easy ways to save. Now, in addition to saving from your paycheck via direct deposit, you can also fund your myRA account from your checking or savings account. And at tax time, you will be able to direct all or part of your federal tax refund to your account.

Why open an account?

Most people want to save, but haven’t found an easy way to get started. myRA was developed to remove common barriers to saving and to give people a simple, safe, affordable saving option. Some of the reasons to start saving with myRA include the following:

• It costs nothing to open an account and there are no fees.

• You can contribute any amount you choose ($2, $20, $200 – whatever fits your budget).1

• Your account safely earns interest.

myRA carries no risk of losing money.

• If you need to, you can withdraw the money you put in without tax and penalty.2

It’s easy to get started

myRA makes it easy to sign up and get started. It only takes a few minutes. There are three simple steps:

1. Open your account at myRA.gov. It takes only minutes to sign up.

2. Fund your account from your paycheck, checking or savings account, or federal tax refund. Set up automatic contributions from your paycheck or from a checking, savings, or another type of account. At tax time, you can also direct all or part of your federal tax refund to your myRA.

3. Access your account online and watch your savings grow. You can view your balance or manage your account by logging in to your myRA account online.

Why wait? You can start taking more control of your future today. Visit myRA.gov today to get started.


About Capital Area Asset Builders

Capital Area Asset Builders (CAAB) is a non-profit organization whose mission is to empower low- and moderate-income residents of the Greater DC Area to take control of their finances, increase their savings, and build wealth for a better future.

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Now, more than ever, non-profits like Capital Area Asset Builders (CAAB) need your help. Please support CAAB as we continue to help DC residents manage and/or improve their financial situation during these difficult times. If you can't afford to give a monetary gift, please visit our Amazon Wish List where you can choose from a variety of items that CAAB needs in order to better serve our community.

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Capital Area Asset Builders (CAAB)
c/o Joseph Leitmann-Santa Cruz, CEO & Executive Director
1100 H Street NW, Suite 200
Washington, DC 20005