Trump signs order aiming to help expand access to retirement accounts
Fox Business • • nation
Key Points:
- President Donald Trump signed an executive order to expand access to retirement savings accounts for Americans without employer-provided plans, launching TrumpIRA.gov starting next year.
- The initiative includes a Federal Savings Match program offering up to $1,000 annually in matching funds for low-income Americans earning under $35,000.
- The program aims to provide retirement benefits similar to federal employees' Thrift Savings Plans, potentially enabling participants to accumulate substantial savings over time.
- The Treasury Department will manage the TrumpIRA.gov website to help workers find qualifying private-sector retirement plans and will promote the matching program to encourage participation.
- This effort builds on 2022 legislation and is intended to revolutionize retirement savings access for millions lacking employer-sponsored plans.
