A guide to Obama’s plan for retirement savings

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WASHINGTON — President Barack Obama used his State of the Union speech to roll out a plan to coax low- and middle-income Americans into saving more for retirement.

New retirement accounts being set up by the Treasury Department would target workers whose employers don’t offer retirement benefits or who haven’t started saving yet for old age. The new ‘‘starter’’ savings program is called ‘‘myRA’’ — for ‘‘my IRA.’’ Treasury expects to have a pilot program working by the end of the year. The White House does not need congressional approval to start the program.

‘‘We think this fills a space that, very importantly, we can do by our own authority,’’ Treasury Secretary Jacob Lew told reporters Wednesday.

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