Trump Signs Executive Order Launching IRA Web Site

President Donald Trump signed an executive order on Thursday directing the Department of the Treasury to publicize and support individual retirement arrangements for workers who are not offered a workplace retirement plan.

The order directed Treasury to launch by January 1, 2027, a website—TrumpIRA.gov—intended to highlight institutions that offer retirement funds with “overall net-expense ratios” of 0.15%–and no minimum contribution or minimum balance requirements. The order also directs that investments in the IRAs available through the site offer “diversified index-based investment options, automatic portfolio choices, and portability.”

In 2026, the defined contribution plan contribution limit for participants younger than 50 is $24,500, and the IRA limit is $7,500. Catch-up contribution limits permit workers 50 and older to contribute more to each account. The IRS offers information on individual retirement accounts.

In 2018, during Trump’s first term, Treasury eliminated the myRA program, launched in 2015 as a way for individuals to set up automatic direct deposit contributions to myRA through their employer; fund a myRA account directly by setting up recurring or one-time contributions from a checking or savings account; or direct all or a portion of a federal tax refund to myRA.

What Will Be Included

The new site should also offer instructions about how workers can claim the Saver’s Match, a voluntary program enacted by the SECURE 2.0 Act of 2022 that offers a direct federal contribution of up to $1,000 deposited into a low-to-moderate-income taxpayer’s individual retirement account or retirement plan if the account holder contributes up to $2,000. Savers with adjusted gross incomes less than $20,500 ($41,000 for married filing jointly) will qualify for the full match. Single filers earning up to $35,500 and joint filers up to $71,000 will qualify for a match at phased-out levels.

The Saver’s Match is scheduled to begin on January 1, 2027. The match will replace the Saver’s Credit, a nonrefundable tax credit created under the Economic Growth and Tax Relief Reconciliation Act of 2001 and made permanent by the Pension Protection Act of 2006.

Few taxpayers claim the Saver’s Credit: In 2021, the IRS estimated that only 5.7% of taxpayers claimed the credit, and the average credit was $191.

The Congressional Joint Committee on Taxation estimated in 2022 that the Saver’s Match, as part of SECURE 2.0, would cost the federal government $9.3 billion from fiscal 2023 through year 2032. While contributions to both traditional and Roth retirement accounts qualify, the match itself must be deposited in a traditional account.

In attempt to help implement the Saver’s Match, the order directed Treasury to ensure eligible workers who contribute to qualifying IRAs receive their Saver’s Match deposit. The order also instructed Treasury to collaborate with financial institutions to ensure they can accept and process the government’s matching contributions.

The order also directed Treasury and the IRS to issue guidance on charitable contributions to the listed IRAs, clarifying when and how such contributions can be made. Current law does not clearly allow a nonprofit organization to contribute directly to the IRA of a low- or moderate-income worker without risking the organization’s tax-exempt status.

In addition, the order directed Treasury and the Department of Labor to issue rules ensuring the listed IRAs are managed transparently and solely in the interest of the saver.

During the signing ceremony, Trump and Kevin Hassett, director of the National Economic Council and nominee for Federal Reserve chair, both said they are planning additional legislation this year to create a similar IRA for middle-income Americans and gig workers, an account that could also be eligible for a federal matching contribution.

The IRAs available through the new web site would be different from Trump Accounts, created in the 2025 tax law, which will be treated as individual retirement accounts under Section 408 of the Internal Revenue Code and available for any child younger than 18 who has a Social Security number.

Industry Support

Members of the retirement industry expressed support for the order even before the White House signing ceremony had begun.

“We’re encouraged by the Administration’s continued focus on improving America’s retirement system, especially by expanding access for the nearly 59 million Americans who currently lack a workplace retirement plan—representing roughly half of all working Americans,” said Chris Spence, head of federal government relations and public policy at TIAA, in a statement.

The American Retirement Association wrote in a statement: “As policymakers consider next steps, including potential legislative proposals, all Americans must have a meaningful and equitable opportunity to save for retirement, regardless of how or where they choose to do so. … ARA looks forward to working with Congress and the Administration to advance solutions that build on the strengths of the existing private retirement system while expanding access and improving outcomes for all workers.”

Teresa Ghilarducci, director of the Wealth Equity Center at the New School for Social Research, wrote in a statement, “I have spent my career arguing that America’s retirement system fails working people. I did not expect a Trump executive order. And yet—the underlying move is exactly right. Getting 56 million workers into an account with a real federal match is the largest potential expansion of retirement coverage since Social Security.”