Meeting Archive:
myRA: Making Retirement Planning Work Your Small Business


Meeting Description:
This free webinar will focus on “myRA” (“My Retirement Account”), a new retirement savings account for individuals looking for a simple, safe, and affordable way to start saving.  Savers will be able to open an account for as little as $25 and contribute $5 or more every payday.  myRA balances will never go down, and there will be no fees. Initially, myRA will be made available through employers and the investment held in the account will be backed by the U.S. Treasury.

For businesses, making myRA available to employees is straight-forward.  Treasury will handle account set-up and maintenance and will provide informational materials for business owners to share with their employees.  There is no employer-match or contribution.  In fact, all that interested employers have to do is to make Treasury-provided program materials available to their employees and set-up ongoing payroll direct deposits into myRA for interested employees.  myRA is intended for employees who do not have access to an employer-sponsored plan or who are not eligible for their employer’s plan.  myRA is not intended to replace current employer-sponsored retirement plan offerings.

Topics being discussed include:

  • Overview of myRA
  • Benefits of the program
  • Steps for employer adoption

A question and answer period will follow.

 
About Small Business Majority
Small Business Majority is a national nonprofit advocacy organization focused on solving the biggest problems facing America's 28 million small businesses. We conduct extensive opinion and economic research and work with small business owners, policy experts, and elected officials nationwide to bring nonpartisan small business voices to the public policy table.
Details
Date: Wed, Jul 16, 2014
Time: 03:00 PM EDT
Duration: 1 hour
Host(s): United States Treasury Department, Small Business Administration, and Small Business Majority
 Presenter Information
Cynthia Egan - Senior Advisor, Office of Domestic Finance, U.S. Department of the Treasury
Speaker Photo

Cynthia Egan advises on the development and launch of myRA at the Treasury Department.
 
Egan's career has spanned three decades in the private sector, where she held president and senior operating positions with several firms.  Most recently, she was president of T. Rowe Price Retirement Plan Services.  She has been a leader with advancing domestic retirement programs and has extensive experience in guiding successful retirement organizations through all stages.
 
Egan has also been a non-profit organization leader, and during her tenure as president of Fidelity’s Charitable Gift Fund she grew the organization to then be the nation’s second largest public charity.  She has been publically recognized for her work with retirement income solutions and has launched impactful gender diversity initiatives at two major institutions. She is a corporate director of two public companies, is a graduate of Boston College and volunteers as a board member to several organizations.