myRA is a new way to help your employees save for retirement. It’s simple, safe and affordable — at no cost to employers.
Access resources for employersBenefits of myRA
myRA is a new retirement savings account from the U.S. Department of the Treasury that's easy for savers — and simple for employers to make available to their employees.
No cost to employers
myRA is free and it’s easy for employers to make it available to employees. You don't administer employee accounts, contribute to them, or match employee contributions. All you do is tell your employees about myRA and set up payroll direct deposit in their myRA accounts if they choose to participate.
A good fit for employees
myRA a new type of Roth IRA designed to make retirement saving accessible for employees — there are no fees, and they can choose how much they want to save. If you have employees who aren't eligible for your employer-sponsored retirement plan, or if you don't offer a retirement plan, myRA may be a good option for them.
A smart way to help your employees save
myRA does not replace a 401(k) or other types of retirement plans. It’s designed for people who may not have access to a retirement savings plan. U.S. companies and nonprofits of any size can help their employees sign up.
Your role is simple. Here's how it works:
1. Talk to your employees
Share information about myRA with your employees.
2. Employees create accounts
Interested employees can visit myRA.treasury.gov to create their account.
3. You help set up direct deposit from their paycheck
After creating their account, employees will fill out a form they’ll bring to you to set up their direct deposit. Once you’ve set up their payroll direct deposit, there’s nothing else you need to do.
Contact us
If you are an employer or another group or organization interested in learning more about myRA, please contact myRA Outreach and Employer Support at 844-874-7590. You can also e-mail us at myRAemployers@stls.frb.org.