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In the first year of the myRA, 2016, our focus at Treasury was mainly on ensuring we had the capacity to meet the very large
"In the first year of the myRA, 2016, our focus at Treasury was mainly on ensuring we had the capacity to meet the very large expected demand from California, Oregon, and Illinois," Iwry explains. "Far from the supposed low numbers, California officials, in accordance with their legislation, made clear to Treasury that they were interested in using the myRA as their temporary placeholder default investment, or sole investment, for up to three years to auto-enroll 6.8 million workers." ... However, in the spring of 2017, the Trump White House and/or Treasury realized (or were told) that continuing to make the myRA available to the states' auto IRA programs would be inconsistent with their intent to sign legislation hostile to those programs. So the Trump Treasury then informed California-as well as Oregon and Illinois-that it was pulling the plug "on the states' plans to promote saving by millions of workings families through myRAs." Shortly after thwarting the states, Treasury announced that the myRA's expected takeup was small and therefore not worth the cost of continuing
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