Overview
- An executive order directs Treasury to launch TrumpIRA.gov before the Saver’s Match begins in January so workers without a workplace plan can compare options and enroll to receive the federal match.
- Treasury will screen the private plans listed on the site for factors like fees and minimums, yet it will not partner with specific financial firms.
- The order also instructs Treasury to promote the Saver’s Match and to issue guidance for private donors who want to contribute to workers’ IRAs.
- The push targets an estimated 54 million people who lack an employer plan, including about 27 million who qualify for the match but have no account to collect it.
- Officials chose a private-plan marketplace to give savers investment choices similar to the federal Thrift Savings Plan, noting a government-run IRA would likely be limited to lower-return Treasury bonds, and they will draft proposals for Congress on automatic enrollment and broader eligibility.