President Donald Trump signed an executive order on April 30, 2026, directing the federal government to build a website — TrumpIRA.gov — where people who don’t have a retirement plan through their job can shop around, compare options, and sign up for private-sector IRA accounts.
The idea is to fill a gap researchers have been pointing out for years: tens of millions of private-sector workers don’t have any structured way to save for retirement at work. The signing happened in the Oval Office.
Executive Order to Launch New Retirement Plans
Trump framed it as giving ordinary workers a benefit similar to what federal employees have had for a long time. “Starting next year, every American can go to TrumpIRA.gov and open a new, low-cost IRA account,” he said.
“You’ll then be able to access the same type of retirement accounts that federal employees enjoy through the Thrift Savings Plan, which is incredible.” The order directs the Treasury Department to have the site up and running by January. That’s the same month a federal matching contribution program — called the Saver’s Match — is scheduled to kick in.
What the Saver’s Match actually does
Just to be clear, the Saver’s Match wasn’t created by this executive order. It came from a law Congress passed in 2022, when Biden was president.
What Trump’s order does is instruct the executive branch to aggressively promote the program and help eligible workers connect to accounts where they can receive the match. The program provides up to $1,000 a year if you file individually, or up to $2,000 for married couples filing jointly.
However, there are income limits. A single person earning under $20,500 gets the full match. The partial match phases in up to $35,500. For married couples, the cutoff is $71,000. To receive the government match, workers have to contribute up to $2,000 a year (or $4,000 for a couple) into a qualifying account — a 401(k), traditional IRA, Roth IRA, or an automatic IRA.
The Treasury Department will also review the private-sector plans listed on the platform and issue guidance for private donors who want to contribute to workers’ IRAs.
How Many People Are We Talking About?
The numbers come from several sources. Pew Charitable Trusts published research in 2025 showing that roughly 56 million Americans don’t have access to an employer-sponsored retirement plan. A White House fact sheet puts the number of workers between 18 and 65 without any employer plan at about 41 million.
The problem affects some groups more than others. AARP data indicates that an estimated 78% of businesses with fewer than 10 employees don’t offer any retirement plan. Part-timers, independent contractors, self-employed individuals, and small business employees make up a large portion of the uncovered population. Nonwhite workers are among the most likely to lack access.
The Economic Innovation Group found that about 26 million full- and part-time workers who qualify for a full or partial Saver’s Match currently have no account or plan where they could receive the funds.
What Happens Next — and What Congress Has to Do
The executive order also directs the White House to work with Congress on legislation to expand the income limits and the overall reach of the program.
Kevin Hassett, director of the White House’s National Economic Council, confirmed at the signing ceremony that raising eligibility for middle-income workers would require congressional action. “We’re working with Congress to significantly expand this program and are looking forward to legislation this year,” Hassett said.
The White House released a projection showing the potential impact of consistent saving. A 25-year-old low-income worker who saves about $165 a month and qualifies for the full Saver’s Match of around $1,000 per year could accumulate roughly $465,000 by age 65 — assuming a 6% annual return — of which approximately $155,000 would come directly from the government match.
A Morningstar analysis estimated that if eligible workers were automatically enrolled in a federally supported plan, about 32.3 million workers would enter the retirement savings system, even after accounting for those who opt out.