President Donald Trump signed an executive order on April 30, 2026, aimed at expanding access to retirement plans for millions of workers in Washington, D.C. This initiative focuses on individuals whose employers do not provide retirement options.
The executive order instructs the Treasury Department to establish an online marketplace for retirement plans called TrumpIRA.gov. This platform is designed to help bridge the retirement coverage gap affecting approximately 50 million people.
Key features of the Saver’s Match program:
- The program will offer a maximum match of $1,000 for single filers and $2,000 for married couples filing jointly.
- Eligibility for the maximum match applies to single filers earning less than $20,500.
- Smaller matches will be available for those earning up to $35,500.
Trump stated, “For millions of Americans who lack employer-sponsored plans, this will be really revolutionary because they’ll be covered.” The Saver’s Match program is set to commence next year.
The executive order also mandates that IRA providers listed on TrumpIRA.gov maintain low administrative costs, capped at 0.15% of account balances. This move aims to make retirement savings more accessible and affordable.
Kevin Hassett from the administration indicated they are working with Congress to potentially expand eligibility for the Saver’s Match beyond those earning $35,500. This could significantly increase participation in retirement savings.
Kim Olson highlighted that last year, 87% of individuals without access to workplace retirement plans indicated they would be more likely to save if they could benefit from a matching contribution.
The initiative aims not just to create an online platform but also to empower low- and moderate-income workers. An estimated 32.3 million workers could enter the retirement savings system under a federal auto-enrollment plan.
This action marks a significant shift in policy regarding retirement savings in the U.S., aiming to provide greater financial security for millions.
