Trump signs executive order on retirement accounts, offering up to $1,000 match

"The executive order builds on the Saver's Match of the SECURE 2.0 Act, which gives workers a 50% refundable match on up to $2,000 annually in retirement contributions for eligible workers making under $35,500 and will go into effect in January 2027."

"The Treasury Department will be directed to launch TrumpIRA.gov, a website where workers could enroll in a private-sector retirement plan and allow them to have diversified, index-based investments, in line with the Thrift Savings Plan for federal workers."

"The Economic Innovation Group found that 42% of Americans who work full-time don't have access to a retirement plan. The White House previously estimated the new policy would make 56 million workers eligible."

An executive order signed by President Trump aims to enhance retirement plan access for workers lacking employer-sponsored options. The order includes a $1,000 annual contribution match for eligible lower-income workers. It builds on the SECURE 2.0 Act's Saver's Match, which offers a 50% refundable match on contributions for eligible workers earning under $35,500. The Treasury Department will create TrumpIRA.gov for private-sector retirement plan enrollment. The initiative seeks to address the 42% of full-time workers without retirement plans and could make 56 million workers eligible for benefits.

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