Trump Signs Executive Order Aimed at Expanding Access to Retirement Accounts

President Trump is aiming to make it easier for Americans who do not have employer-sponsored retirement accounts to build up retirement savings.On Thursday, Mr. Trump signed an executive order that will lead to the creation of TrumpIRA.gov. During a press conference, he said Americans will be able to open a “new, low-cost IRA” and “access the same type of retirement accounts that federal employees enjoy through the Thrift Savings Plans.”He said that users will be able to compare private-sector plans.The website will be set up in time for low- and moderate-income workers to qualify for the federal government’s Saver’s Match, set to go into effect in January. The Saver’s Match was passed in 2022 and offers Americans who make less than $35,000 a year a match from the federal government of up to $1,000 if they save up to $2,000 a year in a qualified retirement plan, such as a 401(k) or an IRA.An investment research company, Morningstar, said in 2025 that Americans who qualify for the match would see a 12 percent increase in their retirement wealth. Mr. Trump said on Thursday, “I’m thrilled to sign a historic executive order expanding access to high quality retirement savings accounts for millions of Americans. “This will be really revolutionary, because they’ll be covered,” he added. According to research from the Pew Charitable Trusts, 56 million Americans do not have access to an employer-sponsored retirement plan. During Mr. Trump’s State of the Union address, he promised to help “remedy this gross disparity” and said his administration will “give these oft-forgotten American workers … access to the same type of retirement plan offered to every federal worker.”Mr. Trump’s order also directs his administration to work with Congress to expand eligibility for the match.

Trump Signs Executive Order Aimed at Expanding Access to Retirement Accounts

Trump Signs Executive Order Aimed at Expanding Access to Retirement Accounts

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