White House Releases Executive Order Expanding Retirement Savings Benefits
Published May 01, 2026
President Trump signed an executive order (EO) for a new retirement savings option available for workers without access to retirement benefits through an employer. The plan is similar to the Thrift Savings Plan available to federal workers. Under the EO, a new website will be created enabling workers to access portable, low-cost retirement options available using Individual Retirement Accounts (IRAs) and includes up to $1,000 in Federal matching contributions.
The Executive Order:
- directs the Secretary of the Treasury to establish TrumpIRA.gov, a new Federal website designed to connect American workers who do not have access to employer‑sponsored retirement plans with high-quality, low-cost IRAs offered by private-sector financial institutions. The website is to be operational by January 1, 2027.
- 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.
- directs the Secretary of the Treasury and the Commissioner of the Internal Revenue Service (IRS) to issue guidance clarifying the tax treatment of contributions made by philanthropic and charitable tax-exempt organizations to IRAs on behalf of eligible workers.
- directs the Secretary of the Treasury to prepare legislative recommendations to codify and build upon the TrumpIRA.gov framework, establishing a permanent path for all Americans to access high-quality, low-cost IRAs and a Federal matching program.