Most Americans get a 401(k) through their job, but tens of millions don't. The White House just signed an order trying to fix that.
The order, signed April 30, tells Treasury to build TrumpIRA.gov by the start of 2027. The site will work as a federal directory of private-sector retirement accounts that meet a strict cost test. The target audience is independent contractors, gig workers, part-timers, and people at small businesses.
TrumpIRA.gov won't manage anyone's money, since it's a curated list. To get listed, an IRA has to keep its net expense ratio at or below 0.15%, which covers operating costs, management fees, and admin charges.
The site also won't allow listed accounts to impose minimum balance or contribution rules.
Each listed account has to offer target-date funds, life-cycle funds, or principal-protection options. The goal is to give workers the same kind of low-cost, set-it-and-forget-it choices federal employees already get through the Thrift Savings Plan, per the White House order.
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The order also leans on a piece of SECURE 2.0 most workers haven't heard of yet. Starting in 2027, the Saver's Match pays up to $1,000 directly into a retirement account for lower-income filers who contribute.
Single filers earning under $35,000 and joint filers under $71,000 are eligible.
That works out to a 50% match on the first $2,000 saved. For workers who never had an employer match, it's the first time the federal government has put real money directly into their accounts.
Treasury has roughly seven months to build the platform and set the listing criteria, and the 0.15% fee cap is the part to watch. Most retail IRAs charge well above that, so the firms that make the cut will be the ones already running ultra-low-cost index funds.
Workers without a 401(k) have spent decades on the outside of the retirement system, and a single website won't fix that. But a federal directory plus a $1,000 match is a start - exactly the kind of slow-burn policy move that quietly retires people millionaires over a working lifetime.
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