A method and system for providing a magnetic element that can be used in a magnetic memory is disclosed. The magnetic element includes first pinned, spacer, free, spin barrier, and second pinned layers. The spacer layer is nonmagnetic and resides between the pinned and free layers. The free layer can be switched using spin transfer when a write current is passed through the magnetic element. The free layer resides between the spacer and spin barrier layers. The spin barrier layer is between the free and second pinned layers. The spin barrier layer is configured to reduce an outer surface contribution to the free layer damping constant. In one aspect, the spin barrier layer has a high areal resistance and may substantially eliminate spin pumping induced damping. In another aspect, the magnetic element also includes a spin accumulation layer between the spin barrier and free layers. The spin accumulation layer has a high conductivity and may have a long spin diffusion length.