Trump pledges new retirement account plans for workers
Trump proposed a new retirement-savings option for workers who don’t have access to a 401(k) or other employer-sponsored plans. The plan would provide a government match of up to $1,000 per year for eligible low-income workers, modeled after the federal Thrift Savings Plan and funded through the Savers Match under the SECURE 2.0 Act. the White House aims to create an account vehicle for these workers to receive the match, hoping to address the gap where many Americans still lack retirement options with employer contributions. The piece also mentions related “Trump accounts” for children—with Treasury funding and potential corporate matches—and notes broader coverage and context surrounding the proposal.
Trump pledges new retirement account plans for workers without 401(k)s
President Donald Trump unveiled a new retirement savings plan for workers during his State of the Union address.
During the Tuesday night address, Trump said that, despite the typical 401(k) retirement savings account rising under his administration, millions of working people still do not have access to a retirement plan that includes matching employer contributions.
LIVE UPDATES: TRUMP DELIVERS 2026 STATE OF THE UNION ADDRESS
“To remedy this gross disparity, I am announcing that next year my administration will give these oft-forgotten American workers, great people, the people that built our country, access to the same type of retirement plan offered to every federal worker, we will match your contribution with up to $1,000 each year,” Trump said.
The savings accounts would be similar to those that federal workers have access to, the Thrift Savings Plan.
The White House intends to use an existing Savers Match enacted by legislation signed by then-President Joe Biden in 2022, the SECURE 2.0 Act, as an avenue for providing an annual $1,000 match to low-income workers. The plan will provide an account vehicle for eligible workers to get that Savings Match.
The idea comes after Republicans created “Trump accounts” as part of their One Big Beautiful Bill Act, which was signed into law last year. The Trump accounts are a form of savings account for children.
The Trump accounts are funded through the Treasury Department with a $1,000 credit for U.S. citizens born from 2025 through 2028. Parents and families can contribute up to $5,000 per year to those accounts.
TRUMP BOASTS OF FALLING INFLATION DURING JOINT ADDRESS: HERE’S THE CONTEXT
Beneficiaries are not permitted to pull from their Trump accounts until they turn 18. At that time, they can withdraw up to half the funds only for higher education costs, training programs, small business loans, or first-time home purchases. They can withdraw more funds later in life.
Several major companies, including Bank of America and JPMorgan Chase, have since pledged to match $1,000 contributions to their employees who open Trump accounts.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
