I 
114TH CONGRESS 
2D SESSION 
H. R. 4491 
To provide for MyRA accounts, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 8, 2016 
Mr. CROWLEY (for himself and Mr. ELLISON) introduced the following bill; 
which was referred to the Committee on Ways and Means 
A BILL 
To provide for MyRA accounts, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Making Your Retire-
ment Accessible Act’’ or the ‘‘MyRA Act’’. 
SEC. 2. MYRA ACCOUNTS. 
(a) IN GENERAL.—Section 408A of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following: 
‘‘(g) MYRA ACCOUNTS.— 
‘‘(1) SPECIAL RULE FOR CONTRIBUTIONS FROM 
TAX REFUNDS.—A taxpayer may elect to contribute 
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any portion of an overpayment of income tax for a 
taxable year to a MyRA account. The amount elect-
ed under the preceding sentence— 
‘‘(A) shall not exceed the amount allowed 
as a credit under section 25B for the taxable 
year, and 
‘‘(B) shall not be treated as qualified re-
tirement contributions for purposes of section 
219. 
‘‘(2) DIRECT
DEPOSIT.—The Secretary shall 
provide for direct deposit of refunds from overpay-
ments of income tax by a taxpayer to the MyRA ac-
count of a participant. 
‘‘(3) MYRA ACCOUNT DEFINED.—For purposes 
of this subsection, the term ‘MyRA account’ means 
a Roth IRA which meets the requirements of section 
3106(d) of title 31, United States Code.’’. 
(b) MYRA PROGRAM.—Section 3106 of title 31, 
United States Code, is amended by adding at the end the 
following new subsection: 
‘‘(d)(1) The Secretary shall, in accordance with this 
subsection, establish and carry out a program of individual 
savings accounts to be known as ‘MyRA accounts’ under 
which the Secretary shall, upon receipt of contributions 
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in cash by or on behalf of a participant, issue retirement 
savings bonds to the MyRA account of the participant. 
‘‘(2) In carrying out the program under paragraph 
(1), the Secretary shall— 
‘‘(A) administer a MyRA account for each par-
ticipant and credit bonds issued to the participant to 
the MyRA account of the participant, 
‘‘(B) serve as custodian of assets in the pro-
gram, 
‘‘(C) issue retirement savings bonds described 
in paragraph (4), and 
‘‘(D) issue to each participant an annual state-
ment relating to the participant’s MyRA account. 
‘‘(3) For purposes of this subsection, the term ‘MyRA 
account’ means a Roth IRA (as defined in section 408A 
of the Internal Revenue Code of 1986) established by the 
Secretary on behalf of a participant. 
‘‘(4) A retirement savings bond issued under this sub-
section shall— 
‘‘(A) earn interest at the same annual percent-
age rate as securities issued to the Government Se-
curities Investment Fund in the Thrift Savings Plan 
for Federal employees, as determined under section 
8438(e)(2) of title 5, United States Code, 
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