New York -  It’s time to get saving.

A government-backed individual retirement account announced nearly two years ago by President Barack Obama is now available across the country, the Treasury Department said Wednesday, and it removes several barriers that keep millions of people from saving for their retirement. The account, called a myRA, has no fees, no minimum balance, no risk of losing money and it doesn’t have to be linked to an employer.

“It’s a great way to start saving for retirement in a low-risk way,” said Ed Gjertsen II, president of the Financial Planning Association.

MyRAs are aimed at those without access to employer-sponsored retirement plans like 401(k)s, but anyone under certain income levels is eligible. Workers can have contributions deducted automatically from their paychecks into their accounts, and employers are not charged any administrative fees to do so. Experts say regular, automatic contributions are a crucial way for people to build nest eggs.... Read More: VIN