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Open Enrollment Toolkit | Newsletter Article / Blog Post
Get enrolled in a brighter future today Open a myRA and start saving this Open Enrollment Season It’s Open Enrollment Season, the time of year when people sign up for, or make changes to their benefits, such as healthcare, life insurance, and retirement savings. Take this opportunity to plan for your future — especially your financial future — and start saving. If you're in need of a retirement savings option, consider myRA, a retirement savings account from the U.S. Department of the Treasury. myRA® makes it easy and affordable to get started, even if you can save only a little bit right now. It's specifically designed for people who don't have a retirement savings plan through work, or lack other options for saving. What is myRA? myRA is a Roth IRA1 that's simple, safe, and affordable. Key features include: • It costs nothing to open an account and there are no fees • myRA carries no risk of losing money • There are no minimum balance or contribution requirements • You can contribute any amount you choose ($2, $20, $200 – whatever fits your budget!) • The account safely earns interest2 • You can withdraw the money you put in without tax and penalty3 myRA lets you save in a way that works for you. If you have more than one job, you can contribute from each one. If you change jobs, the account stays with you. Now is the time to start saving – it's easy! 1. Go to myRA.gov and open an account 2. Set up automatic direct deposit contributions from your paycheck, or transfer money from a personal checking or savings account or even your federal tax refund 3. Monitor your account online and watch your savings grow To open an account, you’ll need to have the following on hand: • Social Security number • Driver's license, state ID, U.S. passport, or military ID4 • Name and birthdate of at least one beneficiary (the person you choose to inherit your account) Start saving today for a brighter tomorrow. myRA makes it easy to take the first step. Don’t wait! Sign up or learn more at myRA.gov.1To learn about key features of a Roth IRA and for other requirements and details, go to myRA.gov/roth-ira. 2Accounts earn interest at the same rate as investments in the Government Securities Fund, which earned 2.04 percent in 2015 and had an average annual return of 2.94 percent over the ten-year period ending December 2015. 3Withdraw interest earned without tax and penalty five years after your first contribution if you are over age 59 1/2 or meet certain other conditions, such as using the funds for the purchase of your first home. 4You can also open an account using an ITIN (Individual Tax Identification Number), but only by contacting myRA customer support at 855-406-6972 or TTY/TDD 855-408-6972 or International 1-414-365-9616.
Last updated 09/06/2016