Here’s what you need to know about Trump’s executive order on retirement planning

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President Donald Trump is launching a new website offering access to “high-quality, low-cost” Individual Retirement Accounts (IRAs).

President Trump signed an executive order on April 30 that expands access to retirement savings for workers whose employers do not offer a 401(k)-type plan. The order also allows for up to $1,000 in federal matching contributions, according to a White House news release.

The new website, TrumpIRA.gov, is expected to be active by January 1, 2027.

“Starting early next year, all Americans will be able to access TrumpIRA.gov and open a new low-cost IRA account,” President Trump said during a signing ceremony at the White House this afternoon.

“Then they will have access to the same types of retirement accounts that federal employees enjoy,” he said. White House officials say the new accounts will be similar to the Thrift Savings Plan already offered to federal employees.

Trump’s executive order expands workers’ access to retirement plans

According to the White House, key highlights of President Trump’s executive order include:

The order directs the Treasury Secretary to establish TrumpIRA.gov, a new federal platform aimed at connecting U.S. workers who do not have access to employer-sponsored retirement plans. The website is expected to be operational by January 1, 2027.

This website allows employees to filter and compare IRAs based on cost, quality, and investment options.

The order also directs the Secretary of the Treasury to ensure that eligible low- and moderate-income workers who contribute to a qualified IRA and meet the required requirements receive up to $1,000 in annual federal savers match contributions.

USA Today contributed to this article.

Natassia Paloma can be reached at npaloma@gannett.com, @NatassiaPaloma at x. I’m natassia_paloma on Instagram and Natassia Paloma Thompson on Facebook.

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