H.R. 4491 · 114th Congress
MyRA Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CrowleySponsor9 cosponsors · 9 D
D
Ellison
AG
D
Grayson
ML
D
Lujan Grisham
EN
D
Norton
CR
D
Rangel
JS
D
Serrano
AB
D
Bera
KR
D
Rice
DT
D
Titus1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to establish an employee retirement option known as a MyRA account. A MyRA account functions as a Roth Individual Retirement Account. An employee who elects to establish a MyRA account may contribute any portion of a tax refund or make automatic payroll contributions to the account.
What it does: CRS summary · Introduced in House · Feb 8, 2016
Making Your Retirement Accessible Act or the MyRA Act
This bill amends the Internal Revenue Code to establish an employee retirement option known as a MyRA account. A MyRA account functions as a Roth Individual Retirement Account. An employee who elects to establish a MyRA account may contribute any portion of a tax refund or make automatic payroll contributions to the account.
The funding of MyRA accounts is limited to retirement savings bonds issued by the Department of the Treasury with a specified interest rate and maturity date.
The bill imposes a tax on any employer who fails to comply with the requirement for making direct deposits to a MyRA account of wages designated by an employee.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: MyRA Act
Also known as: Making Your Retirement Accessible Act
Latest action (Feb 8, 2016): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 8, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.