Posted on 05/01/2026 6:14:14 AM PDT by Libloather
President Trump signed an executive order Thursday aimed at getting tens of millions of American workers enrolled in retirement accounts.
The order further directs the Treasury Department to implement the Federal Saver’s Match program to boost Individual Retirement Account (IRA) savings.
Here’s what you need to know about the new accounts and the billions of dollars in federal matching available.
Who is eligible?
Through the website TrumpIRA.gov – launching in January 2027 – all Americans will be eligible to browse and enroll in “high-quality, low-cost” IRA plans offered by private-sector financial institutions.
The plans offered will cater to “American workers who do not have access to employer‑sponsored retirement plans,” according to the White House, particularly independent contractors, part-time workers, small business employees and self-employed individuals.
About 41 million Americans between the ages of 18-65 lack access to employer-provided retirement plans.
How much will the government match?
Individuals with a Modified Adjusted Gross Income (MAGI) of $20,500 or less will be eligible for federal match of up to $1,000, which is 50% on the first $2,000 in annual contributions to a workplace retirement plan or IRA, based on their 2027 tax returns.
(Excerpt) Read more at nypost.com ...
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An incentive for people to save and build for the future.
A good idea. Today, the IRA is the equivalent to the family farm. It offers a way to provide essentials for life beyond working age.
Allowing more folks access to IRAs is obviously a very good thing.
But I’m less sure about the government match. We are a debtor nation. Yet we continue to spend money here, there, and everywhere.
I wish there was a better way to motivate folks to open an IRA. But if there is, I can’t think of it.
Can Newsome cancel this if he becomes prez?
But they won’t do it. Then they blame someone else in 50 years.
“But I’m less sure about the government match. We are a debtor nation. Yet we continue to spend money here, there, and everywhere.”
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The problem that few are aware of is the massive size and certainty of is the future unfunded liabilities of Social Security and Medicare.
The ONLY reasonable way out of it is to privatize them to the greatest degree possible. These Trump accounts are a transition to the inevitable. So, IMHO, it’s money well spent.
And yet, the Roth IRA has been available for decades. With no tax on capital gains, a well managed Roth can be a life changing investment, which seems like a no-brainer. Still, most Americans don’t have a clue how to use them.
Re: Funding.
Shut off federal funds to “Learing” centers, NGOs, Medicaid hucksters, and SNAP benefits to the wealthy, and you’ll have a huge start. Incentivizing people to save is a huge step toward transforming the welfare culture.
Re: Funding.
Shut off federal funds to “Learing” centers, NGOs, Medicaid hucksters, and SNAP benefits to the wealthy, and you’ll have a huge start. Incentivizing people to save is a huge step toward transforming the welfare culture.
Family farms get inherited through generations, pension plans are for you.
Can a rich uncle contribute to the Trump account of their niece/nephews? They should be 100% Roth for effect. I’d dare the rats to work their hatred on them.
I worked for one such corporation who fired me at age 61 so they could steal my accumulated vacation and leave time. Of course, they concocted a more official sounding excuse.
In the intervening five months, I struck out on my own while simultaneously trying to land a job in my field in corporate America with no luck. However, one of my hourly contract gigs did turn into a full time job with one of my clients for the next six years when I was the one who decided to retire because the quality of the organization was so much better than the job that I lost that it more than quadrupled my retirement savings in those six years.
Family farms get inherited through generations, pension plans are for you.
Not directly. Give them the money. They make the contribution
In fact, they will expand the government match big time—as another way to have the government funnel even more tax money (i.e. SNAP) to low income people (who pay no Fed income tax anyway). Democrats will love it even more.
Will be interesting to see how this develops. I’m sure there will be some resistance from the Left, as they hate anything that makes sense.
BKMK
Someway. Somehow. It will end up in the general fund. It is just the way that Congress works.
The government currently takes this much from you and your employer for the wonderful program called social security with an average monthly retirement payment of $1900 per month and the principal disappears completely at the moment you die.
These figures may have changed somewhat since this is an old broadcast, put the principle is still the same.
You mean give the parents the money. Would they deposit it? Would the finance company accept cash? Optics are not good as it works against those that can’t save for whatever frivolous reason.
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