myRA Fact Sheet

Defense Finance
and Accounting Service
Providing payment services of the U.S. Department of Defense

What is myRA?

Effective December 15, 2014, The United States Department of the Treasury, Bureau of the Fiscal Service, began offering a new nonmarketable electronic retirement savings bond program called myRA.  The bond provides a principal protected investment while earning interest at the same rate available in the Government Investment Fund (G-Fund) of the Federal Thrift Savings Plan.

The new retirement account is targeted at employees who are not eligible to participate in an employer-sponsored retirement plan. Also, the same limits for contributions that apply to all other Roth IRA contributions will also apply to contributions for myRA. This means that in 2015 an individual will only be able to contribute a maximum of $5,500 in aggregate to all of his or her IRA accounts, including myRA.

Individuals can continue to participate in the program until their account balance reaches $15,000 or until they have participated in the program for 30 years, whichever occurs first.  Annual and lifetime contribution limits and annual earned income limits apply, as do conditions for tax-free withdrawal of interest.

Who is Eligible?

Any individual who is covered under the Civil Service Retirement System (CSRS), Federal Employee Retirement Systems (FERS), and not covered under a federal retirement plan , whose adjusted gross income phase-out range for a single taxpayer making contributions to a Roth IRA is between $116,000 to $131,000, and $183,000 to $193,000 for a married individual filing jointly for 2015.

What is next for the Department of Defense (DoD)?

The Department is currently developing reference materials for agency use during on boarding, as well as briefing materials.

Where Can I Obtain Additional Information?

Visit the myRA website for FAQs, a savings calculator, how to get started and more. Additional guidance may be found at: or by calling the myRA Customer Support Center at 855-406-6972 or TTY/TDD 855-408-6972 or International 1-414-365-9616.

The Department of Treasury posted a frequently asked questions section on their website and can be located at:

Page updated March 20, 2015