Trump administration ends myRA program that helped people save for retirementMore
29 July, 2017, 03:09
The Treasury Department said Friday it will begin winding down the myRA retirement account savings program begun under President Obama, in a further sign of the Trump administration's efforts to undo the legacy of its predecessor. The U.S. Treasury Department said myRA savers had socked away about $34 million, but the program cost taxpayers almost $70 million. "American taxpayers have paid almost $70 million to manage the program since 2014", the announcement said.
"The myRA program was created to help low to middle income earners start saving for retirement".
According to the Times, "Jovita Carranza, the United States Treasurer, said in a statement that demand for the accounts was not high enough to justify the expense".
As of late past year, however, just 20,000 people had signed up, according to CNNMoney.
The myRA program was launched in 2015 as a way for individuals to set up automatic direct deposit contributions to myRA through their employer, fund a myRA account directly by setting up recurring or one-time contributions from a checking or savings account, or at tax time, direct all or a portion of a federal tax refund to myRA.
The department will be notifying savers soon that they can move myRA accounts to Roth IRA accounts at private firms.
Conte takes shot at Spurs' ambition
The Italian has hailed the England striker as one of the best strikers in the world and a complete player. "If you go to buy Kane now it would be at least £100million".
There were no fees or minimum investments required for myRAs, but there was only one investment option.
The Treasury Department announced on Friday it was phasing out the program, which means the 20,000 investors now enrolled with money saved will have to roll over their assets to a Roth individual retirement account.
Another Obama-era initiative rolled back.
Program costs doubled that of Americans' contributions into myRA. Fortunately, ample private sector solutions exist, which resulted in less appeal for myRA. "Just be sure to stay below the annual contribution limit, which is $5,500 in 2017, or $6,500 if you're 50 or older", she recommends.
"We're concerned that instead of expanding opportunities to save, the administration seems to be curtailing those options that were developed and established in the last few years", Martin Firvida adds.
Karimov's second daughter, Lola Karimova-Tillyaeva, is Uzbekistan's ambassador to Unesco, a position she has held since 2008. It said these included London properties worth £22.9 million ($29.95 million) and hotels in Dubai worth $67.4 million.
The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.03 billion. ILLEGAL ACTIVITY NOTICE: This piece was first posted by Chaffey Breeze and is the property of of Chaffey Breeze.
Allan had previously told a local newspaper that he wanted to be an officer ever since he was a child, according to the Star. Southport is a municipality that is part of Indianapolis but also has its own mayor and police force.
The real reason, however, for even considering Wonder Woman as a possibility is due to the updated voting pool of AMPAS. Speculating on the Oscar roster in July is a fool's errand, but Variety's report begs intriguing questions.
The EU said that it "stands ready" to take action if the Poland Government continues to push through the controversial bills. The country had been faced with sanctions being imposed by the European Commission if the reforms were not scrapped.
In other Sse Plc news, insider Gregor Alexander sold 15,418 shares of Sse Plc stock in a transaction on Monday, June 26th. The CCI technical indicator can be employed to help figure out if a stock is entering overbought or oversold territory.
The kidnappers had on May 25 attacked the school premises, abducting the students and whisking them away through the waterways. The students were released in Ogun state following talks between the abductors and some government officials.
Leading up to UFC 214 , UFC fighters offer unique, behind-the-scenes clips on FOX Sports PROcast and on the FOX UFC social pages. Now that he has turned 30, Jones was asked by widely-respected MMA journalist Luke Thomas how he viewed his 20s.
Residents of evacuated BC city allowed to return
In order for wildfire suppression activities to continue safely and effectively, the public must stay out of active fire areas. The wildfire service said $154 million has been spent so far on suppressing almost 800 fires since April 1.
Seahawks add Pro Bowler in rare player-for-player trade
Alexander was a Pro Bowl selection last season as a special teams player for the Chiefs and played sparingly on defense. Alexander, a fifth-round pick out of Oregon State in 2015, has appeared in all 32 games over the past two seasons.
Porsche drops Le Mans programme to enter Formula E
Porsche has become the latest manufacturer to announce plans to enter the Formula E electric auto championship, reports Autocar . With Porsche reportedly exiting the LMP1 program, it would leave Toyota as the sole manufacturer competing in the class.
Driver totals Ferrari just one hour after buying it
The luxury motor veered off a highway and "burst into flames", according to a Facebook post by South Yorkshire Police. Police say that speed was not a factor so it seems like it was just a batch of bad luck that hit that poor dude.
The Moto Z2 Force hands-on : 2x cameras and a Moto Mod
The specs revealed in Geekbench listing contradict the previous leaks which claimed that Moto X4 would come with Snapdragon 630. But we will surely see it in coming weeks, and it will definitely make into the Indian market, right after the global launch.