myRA, a retirement savings account offered through the federal Treasury Department, can be a supplemental as well as a lone retirement savings vehicle, Treasury Department Bureau of Fiscal Services executive Gregory Till told a Financial Services Roundtable webinar Monday.

“If workers are looking for an additional savings option, myRA can help,” said Till.

One big disadvantage that myRA has compared with many workplace retirement plans is there is no match from the employer, the Treasury executive said.

But he noted it is easy to set up and portable to another job just by notifying a bank of the change in direct deposit information.

The Treasury official said myRA has a maximum savings of $15,000 so it would not compete with private retirement plans.

“It is designed to be a stepping stone,” said Till.