Trump Signs Order To Create Retirement Accounts For Workers Without 401(k)s

President Donald Trump signed an executive order Thursday creating a new federal website meant to help millions of workers without employer-sponsored retirement plans open low-cost individual retirement accounts, a move the White House says will expand access to savings tools long available to federal employees.

The order directs the Treasury Department to launch TrumpIRA.gov by Jan. 1, 2027, where workers will be able to compare private-sector IRA options and identify financial institutions that accept the federal Saver's Match, a government contribution of up to $1,000 a year for eligible lower- and middle-income savers.

"I promised to make the same types of retirement accounts enjoyed by federal employees available to all Americans, and that's what we're doing. It only seemed fair," Trump said during the Oval Office signing ceremony. "Beginning at the start of next year, every American will be able to go to TrumpIra.gov and open a new low-cost IRA account."

The order does not create a new government-run retirement plan. Instead, it builds a federal marketplace for existing IRAs offered by private financial institutions. The White House said the site will highlight accounts with low costs, clear investment options, and products similar to federal workers' Thrift Savings Plan, including target-date funds, balanced funds and principal-protection options.

The policy is aimed at a large gap in the U.S. retirement system. Pew Charitable Trusts data shows that about 56 million private-sector workers, nearly half of that workforce, do not have access to retirement benefits through their employers. The workers most affected include gig workers, freelancers, small-business employees, and lower-wage workers whose employers do not offer 401(k)s.

The federal matching contribution is not entirely new. It comes from the SECURE 2.0 retirement law passed in 2022 under former President Joe Biden, which converted the existing Saver's Credit into a direct government contribution starting in 2027. The program can match 50% of eligible contributions, up to $1,000, for workers who meet income limits and save in qualifying retirement accounts.

Under current rules, single filers earning less than $35,500, or couples earning up to $71,000, can qualify for the match, according to the New York Post. Trump said he wants Congress to expand the benefit to more middle-income workers.

"For millions of Americans who lack employer-sponsored plans, this will be really revolutionary, because they'll be covered," Trump said.

The plan could become one of the most visible retirement policy fights heading into the midterms. Supporters say TrumpIRA.gov could make saving easier for workers who have been left out of the 401(k) system. Critics note that IRAs are already available and that automatic enrollment, one of the strongest tools for increasing retirement participation, is not included in the executive order.

The White House says the Treasury Department will lead a public awareness campaign and work with financial institutions to ensure eligible workers can receive the match. The real test begins in January 2027, when the website and federal contribution are scheduled to go live.