Trump Signs EO for TrumpIRA.gov Retirement Site

President Donald Trump signed an executive order Thursday directing the Treasury Department to launch a government website, TrumpIRA.gov, by January to expand access to low-cost individual retirement accounts for workers without employer-sponsored plans.

The initiative targets an estimated 50 million private-sector workers, primarily low- and moderate-income earners, who lack defined-benefit pensions or easy workplace savings options. The site will allow users to compare and enroll in private-sector retirement plans, such as IRAs modeled after the federal Thrift Savings Plan available to government employees. Treasury officials will vet the listed plans by factors including cost, minimum contributions and balances, without partnering directly with specific financial institutions.

The order builds on the Savers Match program, enacted through 2022 legislation, which begins next year. Eligible low-income workers can receive federal matching contributions of up to $1,000 for individuals earning less than about $35,000 annually, or $2,000 for married couples filing jointly with incomes under roughly $71,000, provided they contribute up to $2,000 or $4,000 respectively into qualified...