President Donald Trump is expected to sign an executive order on April 30 that would broaden access to retirement savings for workers whose employers don’t offer 401(k)-type plans, White House officials said.
The order would create a new website, TrumpIRA.gov, that workers could use to enroll in a private-sector retirement plan.
Trump’s order will coincide with the launch of the Saver’s Match, a 2022 initiative of the Biden administration that delivers up to $1,000 a year in matching retirement contributions for lower-income workers.
The TrumpIRA plan, first reported by Semafor, could boost the share of American workers saving for retirement.
Roughly two-fifths of full-time workers – and four-fifths of part-time workers – lack access to retirement savings through their employers, according to the Economic Innovation Group.
