Overview
- In the State of the Union, Trump said private-sector workers lacking employer plans would gain access to a Thrift Savings Plan–style account with a federal match of up to $1,000 annually.
- The White House has not provided specifics on eligibility, account design, or the rollout timeline following the announcement.
- Options under consideration include reviving the Obama-era myRA and using the SECURE 2.0 Savers Match starting in 2027 to deliver the federal match, according to reports.
- Advisers are exploring ways to implement the program without new legislation, though some analysts say elements may still require congressional approval.
- The initiative targets a wide coverage gap, with AARP estimating about 56 million private-sector workers lack access to employer-sponsored retirement plans.