Will saving in a myRA or other Roth IRAs affect my state or federal public assistance eligibility or benefits?
Your myRA® savings would count as an asset for the purpose of determining whether you qualify for many state or federal assistance programs including Temporary Assistance for Needy Families (TANF), Medicaid, and Supplemental Security Income (SSI). Those programs, and others, limit the amounts of savings and other financial assets individuals may hold, including savings held in myRA and other retirement accounts. On the other hand, the federal Supplemental Nutrition Assistance Program (SNAP) doesn’t limit amounts participants hold in retirement accounts. Contact your benefits program office for more information.