When the Treasury Department recently rolled out the myRA retirement savings program, considerable care was taken to explain that there is not a hidden agenda behind the initiative.

In a video statement announcing the roll out, Treasury Secretary Jack Lew underscored that myRA accounts are not intended to replace workplace savings plans, but rather are designed, in part, to initiate the habit of saving in workers that don't have access to 401(k)s or pensions through their jobs.

Lew said the program was designed to be a "bridge to other savings products."

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.