In 2017 the U.S. Treasury announced the termination of its myRA program. This program, enacted during the Obama era in 2015, was designed to get more Americans to save for retirement. The program operated as a starter for a Roth IRA account for those individuals who did not have retirement plans at work. The program had automatic payroll deductions, no fees, no minimum balance, and virtually no risk with the funds being invested in Treasury debt. When a balance reached $15,000, then the savings rolled over into a private sector Roth IRA.This paper explains why the program failed. To begin with, the program had few participants. A problem for participants was the low rate of return on Treasury debt. This type of retirement fund needs better returns over a long investment horizon. Unfortunately for the myRA program, potential participants can find private sector alternatives with better expected returns. In addition, the program had high management costs for the government. Taxpayers paid nearly $70 million in management costs since the date of launch and the government expected future costs to run $10 million per year. Unfortunately, the participants contributed only $34 million to their accounts. The result was a failed government program.The main purpose of the program was to improve retirement income for seniors. But the government efforts on the myRA program were misguided. A basic analysis of the program's characteristics, with a comparison to the characteristics of market alternatives, reveals the inadequate design of the program. Unfortunately, the government wasted substantial funds administering this doomed program. Those government funds could have better gone to shoring up Social Security, an important program that provides retirement income for seniors. Social Security has solvency problems and needed the funds wasted on the myRA program.