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  • 2014 Mason Area Fair Starts Today

    maf music(SHELTON)- The Mason Area Fair & Rodeo kicks off today Mason County Fairgrounds in Shelton. 2014 Mason Area Fair main stage musical lineup. Dubbed “Mason County Musical Showcase” this year’s featured acts are all musicians from the south sound area,… Read More +

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  • Washington State Competed For Tesla Factory

    teslaState officials say Washington competed to win a massive battery factory for Tesla Motors electric cars, but didn't make the list of finalists. New Mexico, Arizona, Texas, Nevada and California are in the running for Tesla's planned multi-billion-dollar battery plant.

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  • Orioles over Mariners 4-0

    marinersSWie-Yen Chen allowed five hits over eight innings and Delmon Young hit a three-run homer to give the Baltimore Orioles a 4-0 victory over the Seattle Mariners on Thursday night. Chen (11-3), who has won his past four starts, scattered five singles, walked one and struck out three. His 11 wins ties him for third-most in American League. On the road, Chen is 6-1 with a 3.94 ERA in nine starts.

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President Obama Outlines His New Retirement Program

b_250_0_16777215_00_images_obgrabber_2014-01_90742271c8.jpgMANDEL NGAN/AFP/Getty Images (WEST MIFFLIN, Pa.) -- President Obama exercised his executive authority with the stroke of a pen Wednesday to create a starter retirement savings program for American workers whose workplaces do not provide traditional 401ks. “What I'm hoping is that working Americans will take a look because I want more people to have the chance to save for retirement through their hard work,” the president said at the U.S. Steel Irvin Plant in West Mifflin, Pa.

“Wherever I can take steps to expand opportunity for more families, regardless of what Congress does, that's what I'm going to do because I am determined to work with all of you and citizens all across this country on the defining project of our generation, and that is to restore opportunity for every single person who's willing to work hard and take responsibility in this country,” he said.

The president signed the memorandum creating the new retirement savings plan in front of the crowd at the steel plant before handing it over to Treasury Secretary Jack Lew.

The new program, called MyRA, will allow Americans to contribute as little as $5 from each of their paychecks to a retirement account.   The plan is aimed at low- and middle-income households making up to $191,000 a year.

The new plans will be offered as a Roth IRA account and will be backed by the U.S. government.  Initially, workers can make investments as low as $25 and contributions for as little as $5 can be made through payroll deductions.  They will earn the same interest rate as federal employees do in the Thrift Savings Plan Government Securities Investment Fraud and can withdraw their money at any time without tax penalties.

The program will be available in a pilot mode for employees of employers who sign up to participate by the end of the year.

The president’s stop in Pennsylvania was his second after his State of the Union address where he told Congress he is willing to exercise his executive authority if they are not passing legislation on issues like the minimum wage and retirement security.

On Thursday, the president travels to Milwaukee and Nashville, Tenn., for additional events.

Copyright 2014 ABC News Radio

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