President Donald Trump signed an executive order on Thursday directing the creation of a new online portal, TrumpIRA.gov, aimed at the roughly 56 million private-sector workers who lack access to employer-sponsored retirement plans. The portal, expected to be operational by January 2026, will allow these workers to browse and enroll in Treasury-screened retirement savings accounts, according to multiple reports.
The order builds on the Saver's Match program, a provision of the Secure 2.0 Act signed into law in 2022 under former President Biden. That program converts the existing nonrefundable Savers Credit into a direct government match for lower-income savers. Starting in tax year 2027, single filers with adjusted gross income up to $20,000 will receive a 50% match on contributions up to $2,000, for a maximum annual match of $1,000. The match phases out for incomes between $20,000 and $35,000.
“You’ll then be able to access the same type of retirement accounts that federal employees enjoy through the Thrift Savings Plans, which are incredible, as part of the federal Saver’s Match program,” Trump told reporters at a White House press conference. Kevin Hassett, director of the National Economic Council, indicated the administration would seek legislation to expand the program's reach, calling it a bipartisan priority.
The scale of the coverage gap is substantial. A 2025 report from the Pew Charitable Trusts, also cited by AARP, found that 56 million private-sector workers—nearly half of the U.S. private workforce—have no retirement plan available through their employer. Trump first raised the issue in his February State of the Union address, pledging to match contributions up to $1,000 annually.
Unlike the earlier Trump Accounts initiative for children, which partnered with specific financial institutions, the new portal will not involve named partners. Instead, the Treasury Department will vet and screen the plans made available on the site, according to reporting from Semafor citing White House officials. This structure suggests a contained menu of screened options rather than an open marketplace.
For advisors, the portal model has practical implications. Those serving gig workers, solo practitioners, or small employer clients will need to monitor how eligibility thresholds and default enrollment mechanics are written into the implementing guidance. The order also directs the Department of Labor to revisit fiduciary rules for alternative assets, following a separate 2024 order that opened 401(k) plans to private equity, real estate, and cryptocurrency.
Industry groups responded with cautious support. Christopher L. Gandy, president of the National Association of Insurance and Financial Advisors, emphasized the need to address “Americans’ growing concerns about their long-term financial futures.” Chris Spence, head of Federal Government Relations & Public Policy at TIAA, argued that “any solution to the retirement savings gap should include access to lifetime income investment options,” noting that automatic enrollment and payroll deduction dramatically boost participation. Erica Richardson of the Investment Company Institute called the voluntary system “a clear success of smart government policy.”
The executive order also revives a broader policy debate about expanding retirement coverage. As advisors weigh the implications, they may also consider how technology is reshaping the advice landscape—a topic explored in a recent UBS survey of 22 countries, which found that workers still want a human touch in advice. Meanwhile, the retirement services sector continues to see leadership changes, such as Citi tapping a UBS veteran to lead its $40 billion retirement division.
