On April 30, 2026, President Donald Trump signed an executive order aimed at expanding access to retirement plans for millions of American workers. This move seeks to address the significant retirement coverage gap affecting approximately 50 million individuals without employer-sponsored plans.
The executive order directs the Treasury Department to create an online marketplace called TrumpIRA.gov, where workers can easily access various retirement savings options, including 401(k) plans and IRAs. This initiative could fundamentally change how low- and moderate-income individuals save for retirement.
The new Saver’s Match program will provide financial incentives—offering up to $1,000 for single filers and $2,000 for married couples filing jointly. To qualify for the maximum match, single filers must earn less than $20,500, while smaller matches will be available for those earning up to $35,500.
“For millions of Americans who lack employer-sponsored plans, this will be really revolutionary,” Trump stated. “They’ll be covered.” His administration anticipates that this program will encourage more individuals to start saving.
According to Kim Olson, a policy expert, last year around 87% of people without access to a workplace retirement plan indicated they would be more likely to save if they could receive that match. This statistic highlights the potential impact of the Saver’s Match on worker behavior.
The executive order also stipulates that IRA providers listed on TrumpIRA.gov must keep administrative costs low—capped at 0.15% of the account balance. This requirement aims to ensure that more of the savings go toward actual retirement funds rather than fees.
Looking ahead, officials from Trump’s administration are working with Congress to expand eligibility for the Saver’s Match program. They hope to include individuals with incomes higher than $35,500 in future iterations of the program.
This new approach could lead to an estimated 32.3 million workers entering the retirement savings system under a federal auto-enrollment plan. Such changes signal a significant shift in how America addresses its growing retirement crisis.