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Keyword: myra

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  • Treasury Announces Steps to Wind Down myRA Program

    08/02/2017 4:00:00 PM PDT · by texas booster · 5 replies
    The Treasury Dept ^ | July 28 2017 | Jovita Carranza
    July 28 - The U.S. Department of the Treasury today announced that it will begin to wind down the myRA program after a thorough review by Treasury that found it not to be cost effective. This review was undertaken as part of the Administration’s effort to assess existing programs and promote a more effective government. Demand for and investment in the myRA program has been extremely low. American taxpayers have paid nearly $70 million to manage the program since 2014. “The myRA program was created to help low to middle income earners start saving for retirement. Unfortunately, there has been...
  • Jesus Claus and Santa Christ

    12/22/2015 2:07:29 PM PST · by Kaslin · 27 replies
    Townhall.com ^ | December 22, 2015 | Ryan Bomberger
    It's that time of year for us to realize how far societies tend to veer from the true essence of things. We live in a desperately superficial culture that is too often satisfied with veneers. If it's shiny, new and untouched by real life, it strangely gives us the false assurance that it will last forever. Anyone can package up junk, put a nice shimmery bow on it and pass it off as the got-to-have-it-or-you'll-die item of the season. Even when what's inside is genuine and something we truly need, too many are content with the outer misleading packaging. We've...
  • Saint Nicholas and the Origins of Santa Claus

    12/21/2015 9:34:48 AM PST · by SoFloFreeper · 22 replies
    Ligonier.org ^ | 12/21/15 | Stephen Nichols
    ....The legend behind Santa Claus is Saint Nicholas, the fourth-century bishop of Myra. His hat was the bishop’s mitre. Nicholas was born in modern day Turkey to a rather wealthy family. Losing his parents at a young age, Nicholas dedicated both his fortune and his life to the Christian church. Very quickly he was appointed the bishop of Myra, on the southern coast of modern day Turkey.
  • How Retirement Benefits Will Change in 2016

    11/17/2015 9:03:42 AM PST · by Steve Schulin · 17 replies
    U.S. News & World Report ^ | Nov 16, 2015 | Emily Brandon
    Retirement savers will get the option to participate in a new type of retirement account next year, the myRA. There will also be fewer Social Security claiming options for married couples and a small Medicare premium increase for some beneficiaries. Here are some of the important ways retirement benefits will change in 2016...
  • Another step down the long, slow road to IRA nationalization

    01/31/2015 6:43:09 AM PST · by SeekAndFind · 52 replies
    The Sovereign Man ^ | 01/31/2015 | Simon Black
    LetÂ’s take a brief walk into financial reality for a moment.At the time of this writing, the United States governmentÂ’s official debt is nearly $18.1 trillion.Now, letÂ’s look at who the biggest owners of that debt are:1) Taxpayers of the United States.If youÂ’ve held a job in the Land of the Free, 15.3% of your salary has gone to fund Social Security and Medicare.Each of these programs holds massive trust funds that are supposed to pay out beneficiaries, both present and future.Conveniently, the trust funds are required by law to buy US government debt.And given that every single US taxpayer...
  • Illinois Introduces Automatic Retirement Savings Program, a First for the Nation

    01/05/2015 9:37:59 PM PST · by Citizen Zed · 33 replies
    ny times ^ | 1-5-2015 | JOSH BARRO
    Illinois is taking a novel approach to getting its residents to save for retirement. Starting in 2017, most state residents who don’t already have a retirement plan at work will be automatically enrolled in individual retirement accounts, funded through a 3 percent deduction from their paychecks. The program will be created under a law signed by Gov. Pat Quinn on Sunday. Participation will be voluntary, but workers who don’t want to save will need to opt out manually. (They will also be allowed to save more than 3 percent if they wish.) An estimate produced by the plan’s backers found...
  • Investing in the ObamaFund; Treasury rolls out a new savings plan without a Congressional vote.

    12/30/2014 3:32:07 AM PST · by Liz · 16 replies
    wsj.com ^ | 12/29/14
    EXCERPT—--the WH wants you to consider a retirement plan that will invest in nothing but US government debt. Any financial professional who advised this—would be sued for malpractice. But asset allocation is merely one of the problems with the new “myRA” fund rolling out this month. A form of Roth IRA that allows people to save after-tax dollars and watch them grow tax-free until retirement, the new myRA offers a single investment option. It’s a private version of the G Fund that is available to federal workers and has lately been delivering annual returns of about 2% on its portfolio...
  • Obama plan: Cut tax breaks for richest retirement savers

    02/21/2014 1:32:19 PM PST · by stevie_d_64 · 44 replies
    Wall Street Journal (Market Watch) ^ | February 21, 2014 | Robert Powell
    President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. Read Companies bracing for 1-2 retirement punch . According to the report,...
  • Obama step closer to seizing retirement accounts

    02/14/2014 5:48:59 AM PST · by SkyPilot · 65 replies
    WND ^ | 28 Jan 14 | Jerome R. Corsi
    <p>When you hear, “Hello, I’m from the federal government and I want to help you manage your retirement savings,” the best advice is to run away, as fast as you can.</p>
  • The Government is After Your Retirement Accounts

    02/15/2014 7:31:31 PM PST · by Aquamarine · 30 replies
    Philadelphia Church of God The Trumpet ^ | 2/14/2014 | Robert Morley
    The president’s myRA plan tells you a lot about where the country is headed. Many Americans have virtually nothing saved for their retirement. That is a fact. President Obama emphasized this point in his State of the Union speech and proposed a dramatic solution. He wants you to trust your retirement money to the government—so you can be protected. One of the most important rules in investing is never invest in something you don’t understand. Just behind that is never invest in something just because some guy in a good suit tells you to. You work too hard to waste...
  • As 'Retirement Gap' Concerns Reach Across Partisan Divide, Senators Propose Savings Solutions

    02/14/2014 3:08:26 AM PST · by Cincinatus' Wife · 40 replies
    Roll Call ^ | February 12, 2014 | David Harrison
    When President Barack Obama introduced a new retirement savings plan during his State of the Union speech last month, the Republican response was uncharacteristically muted. Although Republicans were upset about the president’s new reliance on executive authority to push his agenda, they had few harsh words about the details of the retirement idea. Dubbed MyRA, Obama’s initiative is intended to allow workers who do not have access to other workplace savings plans to open an account overseen by the government that would invest in low-risk Treasury bonds. It’s a relatively modest proposal, one that would be entirely voluntary for employers...
  • Prepare For When The New MyRA Becomes "TheirRA"

    02/10/2014 11:11:19 AM PST · by blam · 10 replies
    Market Oracle ^ | 2-10-2014 | Peter Krauth
    Prepare For When The New MyRA Becomes "TheirRA" Personal_Finance / Pensions & Retirement Feb 10, 2014 - 06:47 PM GMTPeter KrauthBy: Money_Morning Personal Finance Peter Krauth writes: In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to "help" Americans build a nest egg, coining it the "MyRA." Something immediately felt wrong about the proposal... but I couldn't put my finger on it. So I researched the new MyRA and found details to help you understand just how it works. But I also saw some potential dangers there that you need to prepare...
  • Prepare Now for When the New MyRA Becomes "TheirRA"

    02/10/2014 7:24:55 AM PST · by Vigilanteman · 21 replies
    Money Morning ^ | 10 February 2014 | Peter Krauth
    In his recent State of the Union Address, President Obama unveiled something new: a retirement savings account to "help" Americans build a nest egg, coining it the "MyRA." Something immediately felt wrong about the proposal... but I couldn't put my finger on it. So I researched the new MyRA and found details to help you understand just how it works. But I also saw some potential dangers there that you need to prepare for now... What MyRA Really Means Like most government programs, getting to their essence can take some sifting. So I've distilled here what I think are the...
  • When George Clooney Starts Pitching Government Bonds...

    02/07/2014 12:00:24 PM PST · by Rusty0604 · 4 replies
    Zerohedge ^ | 02/07/2014 | Tyler Durden/ Simon Black
    Last week in his State of the Union address, the President of the United States laid the groundwork for a new government program he calls “MyRA”. As he explained to the American people, this program will allow US taxpayers the ability to loan their retirement savings to the federal government (which, according to POTUS, carries ZERO risk). Given that US Treasury yields fall far below the rate of inflation, this is a big win for the government, and a big loser for the poor suckers who loan them the money. The President then hit the road, touting his one-of-a-kind program....
  • The Countdown to the Nationalization of Retirement Savings Has Begun

    02/05/2014 12:30:52 PM PST · by SeekAndFind · 31 replies
    International Man ^ | 02/05/2014 | Nick Giambruno
    Simply put, the new myRA program put forward by Obama is at best a sucker's deal… or worse, it's a first step toward the nationalization of private retirement savings. (Note: If you haven't yet heard of myRA, I'd strongly suggest you read this excellent overview by my colleague Dan Steinhart.)Even before the new myRA program was announced, there had been whispers about the need for the US government to assume some risk for US retirement accounts. That's code for forced conversion of private retirement assets into government bonds.With foreigners not buying as many Treasuries and the Fed tapering, the US...
  • Obama Stumbles Over Latest Promise: “If You Like Your Retirement…”

    02/02/2014 6:51:20 AM PST · by Kaslin · 42 replies
    Townhall.com ^ | February 2, 2014 | Michael Schaus
    Our imperially inclined President is already acting on the promise he made during his State of the Union to take unilateral “action” outside of the normal legislative process. And at the top of his non-legislative agenda is the reformation of American retirement. Utilizing his oratory prowess and an executive memorandum, the President is promising to give Americans a new way of saving for retirement… Or something like that. Maybe “oratory prowess” was a bit of an overstatement. It turns out that his teleprompter was never taught about avoiding double negatives – let alone triple and quadruple negatives: Obama: 'I'm Not...
  • The trouble with Obama’s myRA plan: Retirement plan helps those with no 401(k), but not much

    02/02/2014 11:54:41 AM PST · by SeekAndFind · 18 replies
    MarketWatch ^ | 02/02/2014 | Chuck Jaffe
    Real life isn’t always a “Field of Dreams,” where “if you build it, they will come.” Instead, there are times when you build it, and they go “Ho-hum,” and mostly ignore you. So while any effort to encourage increased retirement savings among workers deserves to be applauded — arguing against increased savings is like disputing the value of parenthood and apple pie — it’s hard to see President Obama’s myRA program achieving most of its goals, because once you get past what he described during the State of the Union address, it appears to be a lot of wishful thinking....
  • MyRA? Oops! CEO: Name of Obama’s New IRA Program Already Taken

    02/01/2014 9:07:55 AM PST · by rktman · 38 replies
    CNSNews ^ | 1/30/2014 | Barbara Hollingsworth
    The president of a South Dakota-based financial services company says he was startled to hear President Obama call his new government-sponsored retirement program "MyRA" in Tuesday’s State of the Union address because that’s the same name as his firm’s four-year-old “keynote” investment product.
  • The MyRA Propaganda Begins: "A Start To A Secure Retirement" Promises Treasury Secretary

    01/30/2014 1:59:09 PM PST · by Rusty0604 · 53 replies
    Zerohedge ^ | 01/30/2014 | Tyler Durden
    You didn't think the US could at first slowly, and then all of a sudden, expropriate retirement accounts and invest them in the "no risk, guaranteed return" MyRA Ponzi scheme introduced by Obama during the State of the Union address without lots of behavior-modifying indoctrination in the "friendly press" first now did you? Sure enough, here is the first major propaganda salvo, coming from none other than the US Treasury Secretary, Jack Lew, which will be published tomorrow across the McClatchy media empire. * * * Just out from the US Treasury Department, "In an op-ed to be published in...
  • Huge See, I Told You So from 2008: Democrats Try To Take Your 401(k)

    01/30/2014 5:00:06 AM PST · by EBH · 63 replies
    Rush Limbaugh ^ | 11/1/2010 | Rush Limbaugh
    RUSH: Well, now, that's fascinating you mention that, because that's the next item up in my Stack of Stuff and I talked about this weeks ago, maybe even months ago when Tom "Dung Heap" Harken proposed this. Now, before you condition Alicia, let me refer to what she's talking about. It's Mark Hemingway in the Washington Examiner: " Will the government outlaw your 401(k) plan? It seems like an absurd possibility, yet earlier this month two Democratic senators, Sen. Tom Harkin, D-Iowa, and Sen. Bernie Sanders, I-Vt., held a hearing on Capitol Hill exploring the possibility of doing exactly that....