Overview
- The executive order, signed Thursday, directs the Treasury to launch TrumpIRA.gov by Jan. 1, 2027 so workers without employer plans can enroll in private IRAs and claim the new Saver’s Match.
- Treasury will vet and list low-cost IRAs on the site, which will not operate the accounts or partner directly with financial firms.
- Starting in tax year 2027, eligible lower-income savers can receive up to $1,000 a year in federal matching funds at a 50% rate, with the full match for single filers under about $35,500 and reduced amounts up to $71,000 for joint filers.
- White House officials plan to seek legislation for automatic enrollment and broader eligibility, and Morningstar modeling shows those steps could boost U.S. retirement wealth by up to 77% over 10 years.
- Roughly 50 to 56 million workers lack workplace plans, and the Joint Committee on Taxation estimates the Saver’s Match will cost about $9.3 billion from 2027 to 2032.