Chicago – May 01, 2026
In his State of the Union speech earlier this year, President Trump proposed giving private-sector workers without employer-sponsored retirement plans access to new tax-advantaged accounts similar to those available to federal employees.
On Thursday, Trump signed an executive order establishing the accounts and directing the Treasury Department to create an online marketplace where people can choose a plan. Workers making $35,500 a year and $71,000 for married couples will be able to claim up to $1,000 in matching funds from the government. The website, which is not yet live, will be at TrumpIRA.gov.
In his speech, he said the accounts would help “often-forgotten American workers” reap the benefits of market gains.
This type of plan was first authorized in 2022 with the passage of the SECURE Act.
The president’s action comes at a time when the typical American worker has less than $1,000 saved for retirement, according to the National Institute on Retirement Security.
