Promoting Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov
Establishes TrumpIRA.gov to Expand Retirement Access for Workers
What it does
The Department of the Treasury must establish TrumpIRA.gov listing qualifying low-cost IRAs and take steps to ensure eligible individuals receive the Federal Saver's Match.
Real-world impact
- Creates TrumpIRA.gov listing low-cost IRAs for workers without employer plans.
- Limits listed IRA fees to 0.15 percent net expense ratios.
- Directs Treasury to ensure eligible savers receive up to $1,000 Federal Saver's Match.
Topics
Summary
This order directs the Department of the Treasury to create a website called TrumpIRA.gov by January 1, 2027 that helps people without employer retirement plans find high-quality, low-cost individual retirement accounts (IRAs).
It focuses on independent contractors, self-employed people, part-time workers, and small-business employees, and it will list firms that accept the Federal Saver's Match and meet cost, transparency, and investment standards.
The goal is to increase saving, promote accounts with very low fees, and help eligible savers receive up to $1,000 in matching federal contributions.
Questions, answered
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