No, we don’t mean this Myra or this Myra. We mean this myRA courtesy of our friends at Treasury.

We, um, “sat down with myRA” to get to know her. Let’s see what she’s all about:

Apollo: When were you born?
myRA: President Obama mentioned me in his 2014 State of the Union address.

Apollo: So Treasury is like a parent to you?
myRA: You could say that.

Apollo: What have you been doing since January 2014?
myRA: I’ve been in a pilot program between Treasury and a group of 60 employers.

Apollo: And now?
myRA: I’m ready to meet the world.

Apollo: Tell us about yourself. What do you want us to know about you?
myRA: Well, I’m a way for people who do not have a retirement plan at work to get started.

Apollo: So you’re a starter account? A way to encourage savings?
myRA: Right again. You’re so smart…and handsome too!

Apollo: No argument there. How are you funded?
myRA: Workers can have money automatically deducted from their paychecks. They can also contribute directly.

Apollo: Is there a maximum contribution?
myRA: Up to $6,500/yr for those age 50 or older. Otherwise it’s $5,500/yr.

Apollo: How about a minimum?
myRA: Nope. Like the lottery all it takes is a dollar and a dream. You can edit that dream part, right?

Apollo: Can I open an account at a bank or with my broker?
myRA: Sorry. Accounts are held by Treasury.

Apollo: Any fees?
myRA: None.

Apollo: Sounds too good. What’s the catch?
myRA: Investment options are lame. You can buy Treasury bonds. That’s it.

Apollo: That sucks. What kind of ROR is available on that?
myRA: The Government Securities Fund available to federal employees through the government retirement plan averaged 2% over the last five years.

Apollo: That really sucks.
myRA: Your point?

Apollo: Let’s just move on. What about hardship? Can I get my money?
myRA: Absolutely. Participants may withdraw contributions without tax or penalty.

Apollo: No tax? No penalties? Really?
myRA: Well, not on contributions. I’m subject to Roth IRA rules so earnings are taxed and subject to penalty if withdrawn before age 59 ½.

Apollo: What about portability?
myRA: I’m not tied to a specific employer so I go where my owner goes.

Apollo: So no worries about leaving you behind like an old 401(k)?
myRA: Who would leave me behind? I’m adorable. I’m a freakin’ Kardashian!

Apollo: So you’re a train wreck?
myRA: Your words – not mine.

Apollo: Anything us we should know about you?
myRA: You need taxable compensation to contribute and have to fall within Roth IRA income guidelines.

Apollo: Those are pretty low, aren’t they?
myRA: Yeah. For 2015 a single person can earn a maximum of $131,000.

Apollo: So this is a retirement account for the average Joe?
myRA: Or average Jane you sexist bastard.

Apollo: Not what we meant.
myRA: Sorry. I get a little touchy because I’m all about the common man. Not those evil one-percenters.

Apollo: Don’t you mean common woman?
myRA: Touche.

Apollo: Anything else?
myRA: Of course. There’s always a catch, right? Ha! After 30 years accounts no longer earn interest.

Apollo: No more interest?
myRA: Well, not from me. I get bored easily.

Apollo: Can you be traded in for a younger model?
myRA: I knew you were a sexist pig. Well, I suppose I can be rolled into a private sector Roth IRA but…

Apollo: No buts. No more interest from you means no more interest in you. Like that play on words?
myRA: This interview is over.