each participant an annual statement relating to the participant’s MyRA account. (3) For purposes of this subsection, the term MyRA account means a Roth IRA (as defined in section 408A of the Internal Revenue Code of 1986) established by the Secretary on behalf of a participant. (4) A retirement savings bond issued under this subsection shall— (A) earn interest at the same annual percentage rate as securities issued to the Government Securities Investment Fund in the Thrift Savings Plan for Federal employees, as determined under section 8438(e)(2) of title 5, United States Code, (B) shall be compounded daily at 1/360 of the annual percentage rate, (C) shall have a maturity date that is indeterminate and may differ for each bond issued, but that does not exceed the earlier of 30 years from the date the bond is first issued on behalf of the participant or when the total value of all such bonds held on behalf of the participant in the MyRA account reaches $15,000, (D) shall cease to bear interest on the date of maturity, and (E) shall be redeemed by the Secretary upon maturity. (5) Upon reaching maturity the Secretary shall transfer the entire amount in the MyRA account in a manner that meets the rollover requirements of section 408(d)(3) to a Roth IRA (other than a MyRA account) of the participant administered by a trustee who meets the satisfaction requirements of the Secretary under section 408(a)(2). For purposes of this paragraph, the Secretary shall make transfers to eligible trustees on a rotating basis unless the participant elects otherwise. (6) The Secretary shall accept contributions from employers on behalf of employees by direct deposit. (7) The Secretary shall accept contributions from participants by direct deposit. (8) Participant information under the program under this subsection shall be exempt from disclosure to the public. (9) The Secretary shall issue a quarterly report to Congress— (A) listing the number of accounts created in that quarter, the total number of accounts in existence, the