President Donald Trump signed an executive order on April 30 creating TrumpIRA.gov, a new website that broadens access to retirement savings for workers whose employers don't offer 401(k) plans. The site will launch by January 1, 2027.
Beginning next year, workers without a workplace retirement plan can visit TrumpIRA.gov to open low-cost IRA accounts from private administrators with no minimum contributions or balance requirements. The program aims to reach millions of Americans.
A key feature is the Saver’s Match, a Biden-era initiative starting January 2027, that provides up to $1,000 per year in matching contributions for lower-income workers. To qualify, single filers must earn less than $35,500 annually; joint filers under $71,000. The government matches 50% of contributions, directly depositing funds into retirement accounts.
Trump said he will ask Congress to expand the Saver’s Match to higher-income earners. Roughly two-fifths of full-time workers and four-fifths of part-time workers currently lack employer-sponsored retirement access.
The initiative draws praise from AARP but faces criticism over cost. Funding the Saver’s Match is projected to reduce federal revenues by $9.3 billion between 2028 and 2032, with potential automatic enrollment pushing costs past $20 billion, according to the Cato Institute.