Trump Signs Executive Order Expanding Retirement Account Access for Millions of Workers Without Workplace Plans
Why It Matters
President Donald Trump signed an executive order aimed at expanding retirement savings access for tens of millions of American workers who currently lack employer-sponsored plans. The move targets a significant gap in the national retirement system and could provide low-income workers with federally matched contributions — a benefit previously unavailable outside formal workplace plans.
The order builds on existing law and directs the White House to work with Congress to extend the program further, with the potential to reshape retirement security for a large segment of the U.S. workforce.
What Happened
President Trump signed the executive order on Thursday, directing the creation of a new government website — TrumpIRA.gov — expected to launch next year. The site would allow workers to research, compare, and enroll in private-sector IRA accounts eligible for federal matching contributions.
“You’ll then be able to access the same type of retirement accounts that federal employees enjoy through the Thrift Savings Plans, which are incredible, as part of the federal Saver’s Match program,” Trump said at a White House press conference. “Low-income Americans will be eligible to receive up to $1,000 per year in matching funds deposited directly into their accounts.”
Trump first raised the idea of expanding retirement account access during his State of the Union address in February, framing it as a way to bring private-sector workers closer to the benefits long available to federal employees.
The executive order integrates with the Saver’s Match, a provision included in 2022 legislation known as Secure 2.0, which is set to take effect in tax year 2027. The order also instructs the White House to work with Congress on legislation to broaden both the coverage and the savings credit.
By the Numbers
56 million — Americans who currently lack access to an employer-sponsored retirement plan, according to 2025 research from the Pew Charitable Trusts.
$1,000 — Maximum annual federal matching contribution available to qualifying low-income workers under the Saver’s Match program.
$20,000 / $40,000 — Adjusted gross income thresholds for single and joint filers, respectively, to qualify for the full 50% government match on up to $2,000 in contributions.
26 million — Full- and part-time workers who qualify for the Saver’s Match but currently have no plan through which to collect the benefit, according to the Economic Innovation Group.
12% — Projected boost to retirement wealth for eligible Americans, according to a 2025 Morningstar model of retirement outcomes.
Zoom Out
The executive order comes as lawmakers and policy organizations across the political spectrum have increasingly focused on the retirement savings gap facing working- and middle-class Americans. Congress has already advanced several related proposals, including the Retirement Savings for Americans Act — a bicameral bill calling for portable, tax-advantaged savings accounts — and the Automatic IRA Act, which would require employers with more than 10 employees to enroll workers in automatic retirement contribution plans.
At the state level, 17 states have passed legislation establishing automatic enrollment individual retirement accounts, or auto-IRAs, for workers whose employers do not offer retirement plans. The federal initiative could create a parallel national framework that complements those state-level programs.
Shai Akabas, vice president of economic policy at the Bipartisan Policy Center, said the Saver’s Match is “a step in the right direction” for low- to moderate-income workers, while also noting that legislative action would be critical to making the program reach its full potential. “We know that the significant majority of people are unlikely to take these proactive steps on their own,” Akabas said, as reported by CNBC.
The broader effort to reduce government dependency and encourage personal financial responsibility aligns with long-standing conservative priorities around individual savings and free-market solutions to retirement security. For context on how shifting federal spending priorities are affecting lower-income households, see coverage of potential federal budget changes to SNAP that could cost Alabama up to $261 million.
What’s Next
The TrumpIRA.gov website is expected to launch next year, ahead of the Saver’s Match taking effect in tax year 2027. The White House has signaled it will seek congressional action to expand eligibility beyond those currently earning under $35,000 annually. National Economic Council Director Kevin Hassett confirmed at the press conference that the administration is pursuing legislation to extend the program to more Americans.
“To take it to the next level, we need congressional approval, which should be very easy to get. It should be bipartisan,” Trump said during the signing. As the administration navigates its broader economic agenda — including ongoing trade and tariff policy discussions — the retirement savings push represents a rare area where White House officials are openly calling for cross-aisle cooperation.