A New Federal Initiative to Help More Americans Save for Retirement
A 2025 report by the Pew Charitable Trusts1 found that nearly half of U.S. workers in the private sector (approximately 56 million people) do not have retirement benefits through their jobs. To address this, on April 30th, 2026, President Trump signed an Executive Order2 directing the U.S. Treasury to build a federal online marketplace, TrumpIRA.gov, to help workers without a workplace retirement plan find low-cost IRA options.
Here’s a synopsis of the Executive Order:
What is TRUMPira.GOV?3
- A government-hosted website listing low-cost IRA options from participating financial institutions. (These institutions will be evaluated and vetted by the U.S. Treasury)
- A resource for workers without a 401(k) through their employer to set up a retirement savings account
- A tool to promote the SECURE 2.0 Saver’s Match, a federal incentive worth up to $1,000 for qualifying lower- and middle-income workers
- Website launch is projected for January 1, 2027, by the Treasury Department
What It Is Not
- A new account type: IRAs already exist; this portal is a directory, not a type of account
- A change to IRA contribution limits, or the dollar amount of the Saver’s Tax Match
- A replacement for employer-sponsored plans like 401(k)s
- Access to the federal Thrift Savings Plan that remains closed to the general public
What This Means
If you have access to an employer-sponsored retirement plan, nothing about your current savings strategy changes. TrumpIRA.gov is aimed at workers who currently have no plan access, such as part-time staff, contractors, and self-employed individuals.
Next Steps For Executive Order
January 2027: The U.S. Treasury is directed to have TrumpIRA.gov live and operational with financial institution listings.
TBD: Financial institutions will individually decide whether to opt in and meet the portal’s listing requirements.
Ongoing: Treasury, DOL, and IRS are developing guidance on listing standards, Saver’s Match processing, and worker protections — details will determine real-world impact.
Congress: Any expansion of benefits or account types beyond what is already in the current law requires legislative action.
Take credit for your retirement!
Interested in learning more about retirement planning? Contact our retirement services professionals today so they help you make smart choices about retirement savings.
Raymond James (R.J.) Reibel
Financial Advisor, Retirement Benefits, Managing Director
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Paula Megan, CFP®
Associate Financial Advisor, Retirement Benefits, Assistant Vice President
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Scott Bussells, AIF®
Financial Advisor, Retirement Benefits, Vice President
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1 The Pew Charitable Trusts, “Federal Saver’s Match, Coming in 2027, Could Boost Automated Retirement Savings Programs,” September 11, 2025. Available at: pew.org/en/research-and-analysis/reports/2025/09/federal-savers-match-coming-in-2027-could-boost-automated-retirement-savings-programs.
2 White House Fact Sheet: President Donald J. Trump Expands Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov, April 30, 2027
3 JP Morgan Asset Management Retirement Insights, “Executive Order Spotlight: “TrumpIRA.gov” aims to boost retirement savings access” May 1, 2026
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Any opinions expressed here are those of the authors, and such statements or opinions do not necessarily represent the opinions of Cary Street Partners. These are statements of judgment as of a certain date and are subject to future change without notice. Future predictions are subject to certain risks and uncertainties, which could cause actual results to differ from those currently anticipated or projected.
IRAs, 401(k)s and other retirement plans may have fees associated with them in addition to the costs associated with investing the assets of the retirement plan. These fees may include, but are not limited to: annual account fees; administrative fees that may include recordkeeping of the plan; legal fees; accounting fees; and termination fees. Please consult with your advisor or plan sponsor to learn more about the fees associated with a particular plan.
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