President Donald Trump has signed an executive order aimed at addressing the retirement savings gap for 54 million Americans without workplace plans.
The executive order directs the Treasury Department to launch TrumpIRA.gov by January 2027. This website will function as a marketplace where workers can browse vetted private-sector IRAs, filtering by cost and minimum contributions.
A key feature is the Saver's Match from the Secure 2.0 Act of 2022, effective January 2027. The government will match 50% of contributions up to $2,000 per year for single workers earning under $35,000, effectively providing a $1,000 match. This direct deposit into retirement accounts replaces the previous Saver's Credit.
Unlike the Obama-era myRA program, which invested solely in Treasury bonds, this approach directs workers toward diversified private-sector IRAs similar to the Thrift Savings Plan for federal employees. For a 30-year-old, this distinction could mean hundreds of thousands of dollars more at retirement.
The order also requests legislative recommendations for automatic enrollment and broader income eligibility. It's designed to complement existing state auto-IRA programs in 17 states, including California and Oregon.