People in the U.S. who run small businesses or gig jobs have always thought that saving for retirement was a luxury that only people who worked for companies with 401(k) plans could afford. It’s possible that the gap is getting smaller.
The Pew Charitable Trusts says that as of 2025, about 56 million Americans do not have access to a retirement plan through their workplace. On April 30, 2026, President Donald Trump signed an order that directly dealt with this issue. This order could change how tens of millions of workers save for retirement.
What Trump Just Signed: The TrumpIRA.gov Order
President Trump signed an order that gives workers who don’t have access to a 401(k) or another job plan a new way to save for retirement. Staff can learn about private-sector IRA funds, compare them, and sign up for them by going to TrumpIRA.gov, which the order says should be made public.
This platform’s goal is to connect American workers who don’t have access to retirement plans through their jobs with private financial firms that offer good IRAs at low costs. TrumpIRA.gov should be up and running by January 1, 2027. It will let workers sort and contrast IRAs based on cost, quality, and investment choices.
Speaking from the Oval Office, Trump framed it as a transformative moment: “The great thing for millions of Americans who lack employer-sponsored plans — this will be really revolutionary because they’ll be covered. Nobody thought that was possible.”
The Saver’s Match: Up to $1,000 in Free Federal Money
Perhaps the most powerful piece of this initiative is the federal matching contribution — essentially free money from the government added directly into your retirement account.
Trump’s accounts will work with Saver’s Match thanks to a law from 2022 called Secure 2.0. Single taxpayers with a modified adjusted gross income of up to $20,500 or joint filers with a modified adjusted gross income of up to $41,000 can get a government match of up to $1,000 a year, or 50% of up to a $2,000 payment to a qualified retirement account.
Under the Saver’s Match program, single filers can get up to $1,000 in matching funds, and married couples who file jointly can get up to $2,000 in matching funds. It includes money put into IRAs, Roth IRAs, and 401(k) plans.
Single filers with annual incomes between $20,500 and $35,500 qualify for reduced matching contributions. Joint filers making up to $71,000 can qualify for a reduced match.
To put that in real-world terms, Trump noted that if a 25-year-old eligible for the Saver’s Match invests just $165 a month under the matching federal contributions, they could have an estimated $465,000 in their account by the time they reach age 65.
Who Benefits Most?
About 26 million full- and part-time workers who qualify for a full or partial version of the Saver’s Match don’t currently have access to a plan where they can collect the benefit, according to the Economic Innovation Group.
This order is primarily aimed at:
- Gig workers and freelancers with no employer plan
- Part-time workers excluded from workplace benefits
- Small business employees whose employers don’t offer retirement plans
- Low-to-moderate income earners who haven’t been able to start saving
A 2025 Morningstar model projected that Americans eligible for the match would receive a 12% boost to their wealth in retirement.
The Alternative Assets Angle: 401(k) Investors Also Win
This isn’t the only retirement-related executive action from the Trump administration. Trump’s Executive Order 14330, which says “Opening Up 401(k) Assets to More People,” Investors,” told the Department of Labor to look again at its advice on fiduciary duties under ERISA when it comes to giving participants access to asset allocation funds that include investments in alternative assets. This might finally let people with 401(k)s invest in different types of assets, such as real estate and private equity.
Important Caveats to Know
The plan isn’t without questions. Trump did not elaborate on where in the federal budget the proposed matched money may come from.
Experts also say that the government needs to take more action. Congress has already made some suggestions. The Retirement Savings for Americans Act wants portable, tax-advantaged retirement savings accounts. The Automatic IRA Act says that companies with more than 10 workers should sign their workers up for IRAs or other automatic retirement contribution plans.
What You Should Do Right Now
TrumpIRA.gov won’t open until 2027, but you can start getting ready now:
- Check to see if you can get the Saver’s Match if your income is less than ~£35,500 for a single person or less than ~£71,000 for a married couple.
- To begin right away, open a standard or Roth IRA with any of the big brokerages (Fidelity, Vanguard, or Schwab).
- Give at least $2,000 a year to get the most out of the government match.
- When TrumpIRA.gov opens, check it out to compare low-cost choices.
Source Links
- White House Fact Sheet – TrumpIRA Executive Order
- CNBC – Trump Signs Executive Order Expanding Retirement Account Access
- Fox Business – Trump Signs Order to Expand Access to Retirement Accounts
- LiveNOW from FOX – No Workplace Retirement Plan? Trump’s New Site Aims to Change That
- U.S. Dept. of Labor – Alternative Assets in 401(k) Plans Advisory Opinion
