President Donald Trump is anticipated to sign an executive order on September 5, 2025, to establish a new retirement account designed for workers without access to traditional 401(k) plans. The proposal includes a federal matching contribution of up to $1,000 and will integrate with the Saver's Match from the Secure 2.0 legislation, effective in tax year 2027. This initiative responds to data indicating that approximately 56 million Americans lack employer-sponsored retirement plans. The plan was initially floated by Trump during his State of the Union address.
President Donald Trump is expected to sign an executive order creating a new retirement account option for workers currently lacking access to employer-sponsored 401(k) plans. This initiative aims to boost retirement savings accessibility across the American workforce.
The executive order, anticipated on September 5, 2025, proposes establishing a novel retirement account structure. Key components of this plan include:
The push for this legislation addresses a significant gap in American financial security. According to 2025 research from the Pew Charitable Trusts, an estimated 56 million Americans do not have access to an employer-sponsored retirement plan.
Trump first introduced the concept of these new accounts during his State of the Union address in February.