Overview
- President Trump used the State of the Union to announce access next year to federal-style retirement accounts for private‑sector workers who lack employer plans, with a federal match of up to $1,000.
- Officials estimate more than 55 million workers could qualify, targeting those without access to matching contributions at work.
- The accounts would mirror the Thrift Savings Plan with portable, low‑fee options, and the White House says private donors could also contribute.
- Key design choices remain under development, including eligibility thresholds, enrollment mechanics, how the accounts interact with existing 401(k)s and state programs, and the timing of federal matches relative to the 2027 Saver’s Match start date.
- Economists say a federal match is likely to boost participation among low‑ and moderate‑income workers, though they caution a voluntary approach may not close long‑standing wealth gaps.