3 easy ways to start saving with myRA®
If you've made the decision to start saving for retirement with myRA, congratulations! Now it's time to start funding your myRA using one or more of the funding options available to you. You can fund your myRA account directly from your paycheck or from your checking or savings account. You can also direct all or part of your federal tax refund to your myRA account when you file your taxes.
Do you get paid by direct deposit into your bank or credit union? If so, you can set up automatic direct deposit to your myRA with your employer. Use the direct deposit authorization form provided to you in your welcome packet or access and print the form on myRA.gov. Simply fill out the form and give it to your employer and they'll take it from there. Keep in mind, some employers may ask you to follow their own paper or electronic process to set up payroll direct deposit.
Do you want to fund your myRA from your checking or savings account? You can set up recurring or one-time contributions to your myRA from a checking or savings account. Simply link your personal account to your myRA either during the sign up process or after you open your myRA account. Once your checking or savings account is linked, you can use it to fund your myRA.
Are you expecting a tax refund this year? If so, consider directing all or part of your federal tax refund to your myRA when you file your taxes. In the refund section of the tax return, simply mark the "Savings" box, provide your myRA account and myRA routing numbers, and designate how much of the federal tax refund you want to put towards your savings. myRA's routing number is 111925074.
However you choose to fund your myRA account, you'll be one step closer to a more secure future. And that's something you can feel good about.