President Donald Trump is launching a new website that will provide access to “high-quality, low-cost” Individual Retirement Accounts or IRAs.
Trump signed an executive order on April 30 that will broaden access to retirement savings for workers whose employers don’t offer 401(k)-type plans. The order would also allow for up to $1,000 in Federal matching contributions, according to a White House news release.
The new website, TrumpIRA.gov is expected to be active by January 1, 2027.
“Beginning at the start of next year, every American will be able to go to TrumpIRA.gov and open a new low-cost IRA account,” Trump said in an afternoon signing ceremony at the White House.
“You’ll then be able to access the same type of retirement accounts that federal employees enjoy,” he said. White House officials say the new accounts are akin to the Thrift Savings Plan already offered to federal workers.
Trump’s executive order expands workers access to retirement plans
Here are the key highlights of Trump’s executive order, according to the White House.
The Order directs the Secretary of the Treasury to establish TrumpIRA.gov, a new Federal platform designed to connect American workers who do not have access to employer‑sponsored retirement plans. The website will be operational by January 1, 2027.
The website will allow workers to filter and compare IRAs based on cost, quality, and investment options.
The Order also directs the Secretary of the Treasury to ensure that workers who contribute to qualifying IRAs and meet the requisite requirements receive the Federal Saver’s Match contribution, which is up to $1,000 per year to eligible lower- and middle-income workers who contribute to qualifying retirement accounts.
USA Today contributed to this story.
Natassia Paloma may be reached at npaloma@gannett.com, @NatassiaPaloma on x; natassia_paloma on Instagram, and Natassia Paloma Thompson on Facebook.
This article originally appeared on El Paso Times: Trump executive order expands access to retirement plans. What to know
Reporting by Natassia Paloma, El Paso Times / El Paso Times
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