Not affiliated with The United States Office of Personnel Management or any government agency

Not affiliated with The United States Office of Personnel Management or any government agency

myRA Backed By Government Will Help You Make Retirement Savings

myRA retirementSaving plans have always been there to help government officials to make their post-retirement lives a lot better than they would otherwise be. myRA

has been the latest addition to the retirement plans of the country and it has been backed and supported by President Obama. Several barriers that would ideally be present on retirement seeking officials are now set to be removed. There is no fee, no hidden costs and nothing that could be considered a risk in this regard and it’s something that is just perfect for everyone.

myRA and all that you need to know:

Here are some of the questions that you might have mind regarding the program that everybody is talking about:

  1. Are you eligible?

If you have a salary that is less than 131 thousand a year or couples that earn under 193 thousand a year can register for this program.

  1. How much money would be needed to open an account?

This is the best part about the account. You don’t need a single penny to open an account. What you will need though will be a U.S. passport, a state identification number and a driver license as well.

  1. Is myRA risky?

The plan will most certainly not lose you any money because it comprises only of the funds that are constituted by the US government.

  1. What is the interest rate?

You will be given a different interest rate every month. A ten year tenure ended last December and the average amounted to around 3.2 percent annual interest rate.

  1. Is this going to be enough?

No. This plan can’t be relied upon completely. This is although a great way to start your retirement savings.

It can be said without a doubt that this president backed plan is the most transparent that a retiree can get in the country these days.

Search for Public Sector Retirement Expert.

Receive the Best advice.

PSR Experts can help you determine if Public Sector Retirement is right for you or if you should look for alternatives.

The Best Advice creates
the best results.

Recent Articles

3 Reasons Certain Federal Employees Can Retire Years Earlier Than Their Peers Without Penalties

Key Takeaways: Some federal employees qualify for early retirement due to special provisions in FERS, allowing them to retire years...

CSRS Retirement in 2024: Are You Making the Most of What This Classic Plan Has to Offer?

Key Takeaways: The Civil Service Retirement System (CSRS) remains a valuable retirement plan for federal employees, offering comprehensive pension benefits...

Roth IRA Basics for Beginners: What’s There to Learn?

Key Takeaways Understanding the fundamentals of a Roth IRA is essential for beginners looking to maximize their retirement savings.This guide...

Search For Public Sector Retirement Expert

Receive the Best advice.

PSR Experts can help you determine if
Public Sector Retirement is right for you or if you should
look for alternatives.

The Best Advice creates

the best results.

Subscribe to our Newsletter

"*" indicates required fields

Our Readers Deserve The Best PSHB and USPS Health Benefits Guidance

Licensed insurance agents who understand PSHB, Medicare, and USPS Health Benefits Plan are encouraged to apply for a free listing.

This field is for validation purposes and should be left unchanged.

Book Phone Consultation

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Get In Touch

Stay up to date on the latest information about Public Sector Retirement.

The Best Advice Creates The Best