Part A_myRA Employee Product Adoption Study

Supporting Statement

OMB No. 1530-XXXX

myRA Employee Product Adoption Study

1. Justification

1. Explain the circumstances that make the collection of information necessary. Identify any legal or administrative requirements that necessitate the collection.

The myRA product research will be conducted to provide information to Treasury myRA program management as part of the rollout of the myRA product by Treasury Fiscal Service.

This is part of an ongoing research program to support this new retirement product. The product has been named since President Obama introduced it in this year's State of the Union. The initial product release is scheduled for December 15, 2014. The product is intended to be introduced primarily through employer payroll deduction procedures. This study will provide precise feedback on the myRA product from an employee perspective in a manner that allows detailed ratings on receptivity, what's important to people, and will provide a measure of potential employee interest to be used as one input component in the development of an uptake assessment.

2. Indicate how, by whom, and for what purpose the information is to be used.

The information will be analyzed by the myRA research team comprised of representatives from the Bureau of the Fiscal Service, Treasury Relations Support Office (TRSO), in FRB St. Louis, and Artemis Strategy Group for the following purposes:

1. Uptake assessment. The study will measure respondents’ levels of interest in the myRA product and purchase intent. Using this information in conjunction with details developed from this study covering different employee circumstances, the research team will construct an uptake assessment that can be used to help Treasury myRA program management determine marketing and communication implications.

2. Employer/employee interaction. The study will provide information to aid in employee onboarding and employee education/support needs.

3. Message and communication needs. The study will assess alternative messages and message approaches to convey the attributes and benefits of myRA.

3. Describe whether, and to what extent, the collection of information involves the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. What consideration is given to use information technology to reduce burden?

This study will be conducted online using a pre-recruited internet panel provided by Research Now.

4. Describe efforts to identify duplication. Why can’t any similar information already available be used or modified for use for the purposes described in item 2 above?

Similar data is not available from other agencies, or any other sources.

5. If the collection of information impacts small business or other small entities describe any methods used to minimize burden?

This collection of information does not impact small business or other small entities.

6. What consequences to Federal program or policy activities and what, if any, technical or legal obstacles to reducing burden will occur if this collection is not conducted or is conducted less frequently?

Without the feedback, the Agency will not have timely information to adjust its services to meet customer needs.

7. Is this collection of information conducted in a manner consistent with the guidelines of 5 CFR 1320.6?

There are no special circumstances that require the collection of data to be conducted in a manner consistent with the guidelines set forth in 5 CFR 1320.6.

8. What effort was made to notify the general public about this collection of information?

Opportunity for public notice and comment will be conducted to comply with emergency clearance procedures. Continuing the research for this project is critical to provide precise feedback on the myRA product from an employee perspective in a manner that allows detailed ratings on receptivity, what's important to people, and will allow the projection of uptake rates. The new product was introduced by President Obama in this year's State of the Union and Treasury was given a compressed schedule to release the product by the end of calendar year 2014.

9. What decision was made to provide any payment or gift to respondents, other than reenumeration of contractors or grantees?

General public participants are pre-existing members of a commercial panel. They receive small rewards in the form of points from the commercial panel worth less than $5 for completing a survey of this length.

10. What assurance of confidentiality was provided to respondents and what was the basis for the assurance in statute, regulations, or agency policy?

Aside from protections contained in the Privacy Act, there is no guarantee of confidentiality.

11. What justification is there for questions of a sensitive nature?

No Personally Identifiable Information will be collected and no questions will be asked that are of a personal or sensitive nature.

12. What is the estimated hour burden of this collection of information? Estimates of the burden of collection is as follows:

No. of Respondents	No. of Responses Per Respondent	Hours Per Response	Total Annual Burden
4,000	1	0.25	1,000

13. What is the estimated total annual cost burden to respondents or recordkeepers resulting from this collection of information?

There is no cost to respondents.

14. What is the annualized cost to the Federal Government?

Estimated cost burden to respondents is not available at this time.

15. What is the reason for any program changes or adjustments reported in Items 13 or 14 of the OMB Form 83-I?

N/A

16. For collections of information whose results will be published, outline plans for tabulation and publication.

There are no plans to externally publish the results of the collection information.

17. If seeking approval to not display the expiration date for OMB approval of this information collection, what are the reasons that the display would be inappropriate?

N/A

18. What are the exceptions to the certification statement?

There are no exceptions to the certification statement.

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