Trump Administration Announces Move Forward Toward Establishing Trump IRA Accounts

Last week, President Trump signed an executive order directing the Treasury Department to develop a website (TrumpIRA.gov) where private employers who lack access to employer-sponsored retirement plans can access options. The EO directed that the Treasury establish the website by January 1, 2027. The stated intention is to provide non-covered workers with information about "high-quality, low-cost IRAs." The website will provide a list of institutions that offer IRAs that accept saver's match contributions. The website will also provide certain cost and quality information and allow prospective savers to make comparisons between IRA choices. Among that information is information about IRAs that offer investment fund products or model portfolios, including life-cycle or targeted-retirement-date options and funds designed to protect the investor's principal on an ongoing basis. The listed IRAs must have low administrative costs and fees (limited to 0.15%) and not impose minimum balance requirements. For more information on the saver's match, visit Tax Facts Online.  See Q 3648