Trump Executive Order Expands Worker Retirement Account Access

U.S. President Donald Trump on Thursday, April 30, signed an executive order that expands access to individual retirement accounts (IRAs) for certain American workers and provides up to $1,000 in annual federal matching contributions.

The order seeks to strengthen the financial security of workers who currently lack employer-sponsored plans, including independent contractors, small business employees and part-time workers.

According to 2025 research from the Pew Charitable Trusts, an independent public policy nonprofit, approximately 56 million Americans don’t have access to an employer-sponsored retirement plan.

The order and its accompanying fact sheet direct the Secretary of the Treasury to create a new federal platform, named TrumpIRA.gov, scheduled to be operational by Jan. 1, 2027. This site will enable workers to research, compare and enroll in low-cost retirement accounts with vetted private-sector financial institutions. The program would resemble the Thrift Savings Plan that is available to federal employees.

To incentivize savings, the order states workers who contribute to qualifying IRAs through the platform can receive a federal “Saver’s Match” contribution. Eligible lower- and middle-income workers could receive up to $1,000 in annual matching funds.

Under rules established in the 2022 Setting Every Community Up for Retirement Enhancement (SECURE) Act:

• Single taxpayers with a modified adjusted gross income of up to $20,500 or joint filers making up to $41,000 qualify for a government match worth 50% of up to a $2,000 contribution to a qualified retirement account, for a maximum match of $1,000 a year.
• Single filers with annual incomes of between $20,500 and $35,500 qualify for reduced matching contributions.
• Joint filers making up to $71,000 can qualify for a reduced match.

In addition to the platform, the order:

• Requires the Department of the Treasury and the Internal Revenue Service to issue guidance to clarify the tax treatment of contributions made by philanthropic organizations on behalf of eligible workers.
• Directs the Treasury to prepare legislative recommendations to permanently codify the platform’s framework and build upon the federal matching program.

Editor’s Note: Additional Content

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