By: Elizabeth Harrington July 28, 2017 8:30 am
myRA cost taxpayers $70 million for program used by few Americans, by Elizabeth Harrington, July 28, 2017 8:30 am
>> The Treasury Department is ending an ineffective Obama program that promised to help millions of Americans save for retirement, the government announced Friday.
>> Treasury announced the myRA program would be phased out, after costing taxpayers $70 million though few Americans used the program.
>> Former president Barack Obama used his 2014 State of the Union address to launch the myRA program, with a promise to “help millions” to save for retirement. Two years later, only 20,000 had signed up.