A New Simple Retirement Account Option for Farmers and Their Employees

Published on: 23:27PM Dec 20, 2016

~~Most farmers are aware of IRAs, SEPs, SIMPLEs, 401k and other types of retirement plans.  However, there is a new entry available to farmers and their employees.  It is called the myRA and it is extremely simple, safe (assuming the US government is a good risk), understandable and affordable.

It costs nothing to open, there are no fees, and contributions are invested in US Treasury Securities (think of Savings Bonds).  You can contribute very low amounts up to $5,500 per year.  It is designed to be an entry level plan for employees.

The USDA had a very nice blog post on it that you can review here.