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Setting up direct deposit

myRA® offers direct deposit from your paycheck every payday. Although this will involve your employer, setting up direct deposit is very easy. If you ever change jobs, it’s easy to cancel, too.

Set up the deposit

  1. Download and print the Direct Deposit Authorization Form

    Make sure your employer doesn’t have their own direct deposit forms they prefer to use; if so, use those instead.

  2. Fill in your personal information and employer name
  3. Fill in the myRA account number (found in your myRA welcome packet)

    If you need help finding your account number, contact Customer Service.

  4. Decide upon deposit amount and start date

    To see how your deposits will add up, use the calculator:

    I can put away
    a week.
    year, I can save over
    I can put away per week. In year I can save over
    Estimate only. See calculation details.
  5. Sign and date the form
  6. Hand the form to your employer, who will set up the deposits

    Generally the deposits will begin a few weeks after your employer receives the paperwork. If your employer has additional direct deposit forms, make sure to fill those out as well.

Making changes

To change how much you deposit into your myRA account every payday:

Print and fill out the form again; write in the new amount before giving it to your employer.

To cancel deposits into your myRA account:

Tell your employer; you may need to fill out another form with the deposit amount set to “$0”

Other ways to save

Checking or savings account

Set up one-time or repeating deposits to myRA using your bank account. Learn more about bank account transfers.

Tax refund

You can deposit a portion or all of your tax refund into your myRA account. Learn more about using your tax refund.

Last updated 5/1/2017