New executive action establishes up to $1,000 annual government match for qualifying savers and a centralized tool to compare retirement plans.
By yourNEWS Media Newsroom
President Donald Trump on Thursday signed an executive order launching a new federal initiative aimed at expanding retirement savings access, including a government matching contribution program and a centralized platform for comparing Individual Retirement Account options.
The order directs Treasury Secretary Scott Bessent to develop a public-facing website, TrumpIRA.gov, designed for workers who do not have access to employer-sponsored retirement plans. According to a White House fact sheet, the platform is expected to be operational by January 1, 2027, and will allow users to evaluate IRA options based on cost, investment choices, and overall plan quality.
The initiative also introduces what officials describe as a “Federal Saver’s Match program,” which provides a direct government contribution to qualifying accounts. Under the program, eligible lower- and middle-income workers who contribute to retirement savings accounts may receive up to $1,000 annually from the federal government.
The executive order follows a proposal outlined earlier this year during the president’s State of the Union address, where he pledged to broaden access to retirement savings vehicles similar to those available to federal employees.
Speaking from the Oval Office, Trump said he was “thrilled to sign” the order and emphasized its intended impact on access to retirement planning tools.
“In my State of the Union earlier this year, I promised to make the same types of retirement accounts enjoyed by the federal employees available to all Americans. So that’s what we’re doing. It only seemed fair,” Trump said.
He added, “It’s… really a tremendous situation for all Americans… Promises made, as I say, promises kept.”
The president described the matching contribution program as “revolutionary,” noting its potential effect on workers who currently lack employer-sponsored plans.
“For millions of Americans who lack employer-sponsored plans, this will be really revolutionary because they’ll be covered. Nobody thought that was possible,” he said.
Trump also provided an example of long-term savings potential under the new structure, stating that a 25-year-old contributing $165 per month, combined with federal matching funds, could accumulate approximately $465,000 by age 65.
The White House indicated that the platform and matching program are intended to increase participation in retirement savings while improving transparency in plan selection through standardized comparisons of private-sector IRA offerings.