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All about the new myRA

According to the AARP, nearly half of all private-sector workers -- 55 million Americans -- have no access to a tax-advantaged retirement account through their employer. Younger workers, racial and ethnic minorities, and less educated workers are more likely to be in this category, without access to a 401(k) or pension plan. But 12 million high earners are left out in the cold as well.

Most of these people now have a new option for retirement savings: the myRA. President Obama announced this idea in his State of the Union address back in 2014. Now, after a year of pilot testing, the myRA account is finally available to anyone making less than $131,000 a year (or $193,000 for married...