[Vigilanteman]

What a surprise! Some more hog slop to fool the low information voter . . .

Why do you suppose they do that?

[Eric in the Ozarks]

This is the first step toward nationalizing all retirement plans and our retirement savings.

[Mr. K]

I would bet my life on it that the only difference between your regular IRA and the new “MyRA” is that the government holds the money

Which means that, just like social security, they get to spend it now and pay you back from future deposits

[Mr. K]

so am I mistaken or is a ROTH IRA letting people put pre-tax dollars into a retirement account and then withdraw them tax free??

That does not seem like a US Government Plan at all....

What have I gotten wrong? If I knew I could put money tax-free into an account i would have been doing it all along, but my distrust of ANYTHING government prevented me from even looking at it.

If it IS true then I expect it is a bait-and-switch to sucker people into putting their life savings into an account that they will confiscate and spend (and leave you a ‘voucher’)

You KNOW they want to do that... They keep bring it up over and over again, so the fact they are even thinking about it concerns me. It is only a matter of time before they come up with a way they think they can sell to the sheeple

[digger48]

"Annnnnd....it's gone."

[BuffaloJack]

And the next step will be requiring all IRAs to have the capital 100% in government junk bonds.

[FlingWingFlyer]

This Chicago mob is the worst bunch of thieves ever to hit the District of Corruption. They make all the rest look like a bunch of choirboys.

[reagandemocrat]

When he called it “MyRA” he means “HisRA”.

[Leaning Right]

Isn't the MyRA just like a Roth IRA? Same contribution levels, same tax treatment?

I can see only two differences. I recall reading somewhere that there are no management fees associated with the MyRA. How can that be? Someone somewhere must be paid to keep the records, buy the shares, etc.

And the other difference is that the MyRA only has one investment option, T-bonds. That might be okay for a risk-adverse person in retirement. But it's foolish for anyone else.

Am I seeing this right?

[Rusty0604]

Sen. Tom Harkin’s retirement plan proposal – released Jan. 30 — has some flaws, not the least of which is that employers who offer 401(k) plans would have to change their current plans to be more like defined benefit plans if they didn’t want to be forced to adopt Harkin’s USA Retirement Fund, according to the National Association of Plan Advisors.

http://www.benefitspro.com/2014/02/03/harkin-retirement-plan-would-force-some-employers

[rustyboots]

Question? What happens if you die before $15,000 is put in or before 30 years? Does the government get to keep the money you put in? Or does you family get the principle minus interest or plus interest?
Or is this stuff like Social Security? The government wins and the family gets stuck holding the empty bag?