The Trump administration recently issued an executive order (the “Executive Order”) to provide access to individuals without an employer-sponsored retirement plan to save through individual retirement accounts (“IRAs”). The Executive Order directs the Treasury Department, by January 1, 2027, to establish a website (TrumpIRA.gov) that provides individuals, including workers in small businesses, part-time workers, independent contractors, and self‑employed workers, with information about low-cost, private sector IRAs along with a list of financial institutions offering such IRAs. Individuals who contribute to such IRAs will be entitled to a Federal Saver’s Match contribution of up to $1,000.
We will continue to monitor and report on any further guidance issued in response to the Executive Order, which is available here.