White House press secretary Karoline Leavitt announced on social media that President Trump will sign an executive order Thursday aimed at expanding retirement savings access for workers without employer-sponsored plans. The order will establish a government website where Americans can compare private-sector retirement accounts, effectively creating an “online marketplace for retirement plans” at TrumpIRA.gov, as first reported by Semafor.
The initiative targets the roughly 57 million workers who lack access to employer-based retirement savings vehicles. By centralizing options on a single portal, the administration hopes to lower barriers to entry and encourage personal savings. The move comes as a separate federal program, the Saver’s Match, is set to begin in January 2027, offering up to $1,000 in government matching contributions for individuals earning under $35,000 annually and $2,000 for couples earning less than $71,000.
The Saver’s Match was enacted as part of the 2022 legislation passed under Democratic President Joe Biden, designed to boost retirement security for low- and moderate-income households. Trump’s executive order, while not directly affecting that match, positions his administration as proactive on retirement policy ahead of its implementation.
This latest action builds on earlier efforts by Trump to reshape retirement access. Previously, he signed an executive order expanding retirement access for uncovered workers, signaling a continued focus on financial security. Additionally, the launch of TrumpIRA.gov formalizes a platform that the administration has telegraphed for months.
The order has drawn mixed reactions. Supporters argue it empowers individuals by providing transparent comparison tools, while critics note that without employer contributions or automatic enrollment, the impact may be limited. Some also question whether TrumpIRA.gov can compete with established private-sector platforms like those offered by Fidelity or Vanguard.
With retirement security emerging as a key issue in the 2024 campaign, both parties are staking claims. The Biden-era Saver’s Match offers a direct government subsidy, while Trump’s approach emphasizes market-based choice. The effectiveness of either strategy will likely depend on uptake and long-term savings behavior.
Leavitt’s announcement did not provide details on the website’s launch date or operational costs. The White House is expected to release further information following the signing ceremony on Thursday.
