The President's "myRA" proposal is an old idea with a slight twist. It would allow employers to send workers' contributions to a guaranteed non-profit government bond plan. This is a good move. The program would extend tax breaks that are currently only avaliable to high income workers. This is both a fair and good move.

However, the proposal would move myRA accounts to commerical IRA accounts when savings exceed $15,000. These accounts could then be tapped before retirement, which is a bad move. Another detriment - the program is voluntary, which will limit an individual's ability to accumulate adequate funds for retirement.

Unfortunately, these possibilities for leakage make this proposal woefully inadequate to deal with the retirement crisis. The President should support expanding Social Security, Social Security contributions, and a universal guaranteed prefunded account on top of Social Security.

I would like to keep everyone abreast of recent editorials surrounding both the relevant research and President Obama's "myRA" plan.

Obama MyRA Proposal Unlikely to Boost Retirement Savings
Walter Hamilton
LA TImes
January 29, 2014

A Guide to Obama’s Plan for Retirement Savings
Paul Wiseman
Associated Press
January 29, 2014

New Retirement Plan, myRA, Could Spur Savings for Those Who Were Shut Out in the Past
Phyllis Furman
New York Daily News
January 30, 2014

Connecticut Group Wants State MyRA
Dan Berman
Benefits Pro
January 29, 2014

MyRA Retirement Plans: Everything You Need to Know
Lauren Foster
CRA Institute
January 30, 2014