President Donald Trump signed an executive order Thursday aimed at expanding retirement savings access for the roughly 56 million Americans who lack an employer-sponsored plan, directing the creation of a new federal website where workers could enroll in private-sector individual retirement accounts.
The site, TrumpIRA.gov, is set to launch next year. Through it, eligible workers would be able to research, compare, and sign up for IRAs, and potentially receive matching contributions from the federal government through an existing program known as the Saver's Match.
"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."
The Saver's Match was established through the Secure 2.0 Act of 2022. Starting in tax year 2027, single filers with a modified adjusted gross income of up to $20,500 qualify for a government match worth 50% of up to a $2,000 retirement contribution, for a maximum of $1,000 annually. Joint filers making up to $41,000 qualify at the full rate. Partial matches extend to single filers earning up to $35,500 and joint filers earning up to $71,000.
According to White House figures, about 40.6 million full-time American workers do not participate in any retirement plan, and roughly 48.8 million do not receive an employer match. The executive order targets both groups by linking the new enrollment portal directly to the Saver's Match program.
The administration is also pushing Congress to go further. Two pieces of proposed legislation from 2025 could provide a framework for expanding the program, and investment research firm Morningstar released a study Thursday analyzing what broader legislative action might accomplish. Researchers modeled provisions including expanded access to matching contributions, automatic enrollment features, and a larger government match. Their projections found that cumulative American retirement wealth could increase by as much as 77%, adding up to $1.35 trillion over ten years.
That figure assumes Congress acts. The executive order on its own is more limited in scope, primarily directing the creation of the enrollment website and integrating existing accounts with the Saver's Match. Broader changes, including increasing the size of the match or extending eligibility further up the income scale, would require legislation.
The White House framed the order as the opening move in a larger effort. Whether Congress takes up retirement expansion legislation remains to be seen, but the administration's engagement with specific legislative proposals from 2025 suggests it is actively seeking a path to make the program larger in scope than the executive order alone can achieve.
