MyRA Program: Website Tools for Employers
The Treasury Department was charged to develop a new Roth IRA-type plan option for employers of any size who do not currently offer a retirement plan. This “myRA” program allows an employer to set up a payroll direct deposit process wherein participating employees make contributions to their myRA accounts (see article from January’s Benefit Beat, Are Employers Required to Offer Retirement Plans?). Recently, the Treasury Department posted additional employer resources for employee communications and tools for setting up the program including an employer guide, posters, brochures, internet banners, FAQs and other tools. For additional information, visit the myRA website (https://myra.treasury.gov/employers/).
The information contained in this article is provided as general guidance and may be affected by changes in law or regulation. This article is not intended to replace or substitute for accounting or other professional advice. Please consult a CBIZ professional. This information is provided as-is with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.
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