In details provided by the White House on Wednesday, the retirement savings proposal would be similar to a Roth Individual Retirement
Account, but with holdings backed by the U.S. government like
savings bonds.
"MyRA guarantees a decent return with no risk of losing what you put in," President Barack Obama said in introducing the program on Tuesday night in his State of the Union Speech.
Those accounts would be available to households earning no more than $191,000 a year.