Promoting Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov

President Donald J. Trump has signed an Executive Order establishing TrumpIRA.gov, a new federal initiative designed to provide the millions of Americans who lack employer-sponsored retirement plans—including independent contractors, part-time workers, and the self-employed—with access to high-quality, low-cost savings options.The order focuses on portability, transparency, and leveraging the "power of compound earnings" to build wealth for the American workforce.1. Creation of TrumpIRA.govBy January 1, 2027, the Secretary of the Treasury will launch a centralized digital platform. This website will serve as a curated marketplace where workers can compare and select IRAs from private-sector financial institutions that meet strict federal standards for quality and cost.2. Strict Cost and Quality StandardsTo ensure that workers' savings are not eroded by excessive fees, any IRA listed on the platform must meet specific criteria:Capped Fees: Overall net-expense ratios must be limited to 0.15 percent.No Barriers to Entry: Financial institutions cannot impose minimum-contribution or minimum-balance requirements.Stable Investment Options: Accounts must offer diversified, index-based options, including target-date or "lifecycle" funds and principal-protection funds.3. Implementation of the $1,000 Federal Saver’s MatchThe platform is specifically designed to increase participation in the Federal Saver’s Match (established by the SECURE 2.0 Act).Eligible lower- and middle-income workers who contribute to a qualifying IRA will receive a matching contribution from the federal government of up to $1,000 per year.The Treasury is directed to ensure that financial institutions on the platform are equipped to accept these federal matching payments directly into worker accounts.4. Charitable and Philanthropic ContributionsIn a unique policy shift, the order directs the Treasury and the IRS to provide guidance allowing tax-exempt organizations and philanthropists to make contributions to IRAs on behalf of eligible workers. This allows charitable groups to support the retirement security of "charitable classes" of workers without jeopardizing their tax-exempt status.5. Legislative Path to PermanenceThe Secretary of the Treasury is tasked with developing legislative recommendations to codify these features into law. The goal is to create a permanent retirement system that mirrors the Thrift Savings Plan (TSP) available to federal employees, ensuring portability and low costs for every American citizen.The administration’s stated goal is to provide "left-out" workers with the same wealth-building tools as corporate and federal employees. By combining a low-fee marketplace with a $1,000 federal match, the order aims to provide a "simple, portable, and low-cost" path to financial security for the "unstoppable American workforce."Key Provisions of the Executive Order:Core Objective