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Savers Match

All articles tagged with #savers match

politics1 month ago•2 min saved

Trump expands access to private retirement plans with new government portal

President Trump signed an executive order to create a new government portal, TrumpIRA.gov, to help workers compare private-sector retirement options and access the Saver’s Match. The federal program, set to begin next January, will match contributions—up to $1,000 for single filers and $2,000 for married couples—with income thresholds down to $20,500 (phasing down to $35,500). It targets roughly 50 million Americans without employer-sponsored plans and is based on 2022 Biden-era legislation, with potential expansion sought from Congress.

via NBC News|

#executive-order #politics #retirement-savings

politics1 month ago•312 min saved

Trump expands retirement access with a federal IRA and Saver’s Match

President Trump signed an executive order to broaden retirement savings for private-sector workers without employer plans by creating a federally run, low-cost IRA option via TrumpIRA.gov and pairing it with a Saver’s Match worth up to $1,000 per person ($2,000 per couple) for eligible low- and moderate-income savers. The plan emphasizes low fees (0.15% expense ratio cap), no minimum contributions, and increased public awareness, with Congress possibly needed to codify auto-enrollment and wider eligibility; Morningstar estimates auto-enrollment could bring tens of millions into a federal system, though participation under the voluntary Trump plan remains uncertain.

via CNN|

#executive-order #ira #politics

politics1 month ago•3 min saved

Trump pushes executive order to create universal retirement accounts for workers without employer plans

President Trump plans to sign an executive order creating a new universal retirement account for workers who lack access to employer-sponsored plans, integrating with the Saver's Match (up to $1,000 per year). Pew data show about 56 million Americans without workplace retirement coverage. The proposal uses Saver's Match rules tied to Secure 2.0, with full effect in 2027, and would urge Congress to expand coverage and the savings credit; the White House says the order is a step toward a broader, congressional-backed reform.

via CNBC|

#employer-sponsored-plans #politics #retirement-accounts

politics1 month ago•3 min saved

Trump moves to widen worker retirement options with private-sector portal

President Trump will sign an executive order to expand access to retirement plans for workers without employer-sponsored plans by directing Treasury to launch a private-sector retirement portal (TrumpIRA.gov) tied to the Saver’s Match, enabling workers to filter and enroll in affordable plans that qualify for the match; Treasury will vet plans but not partner with specific institutions, and the move targets about 54 million workers without access (including 27 million eligible for the Saver’s Match who don’t have a plan). The order also directs Treasury and the NEC to craft broader reforms, such as auto-enrollment and expanded match eligibility.

via Semafor|

#politics #private-sector #retirement-plans

politics3 months ago•344 min saved

Trump pitches universal retirement account to expand private-sector saving

Trump used the State of the Union to promote a universal, portable retirement account for private‑sector workers who lack access to an employer plan, featuring diversified, low‑cost options and a Saver’s Match that could add up to $1,000 annually for eligible savers. The White House says details will come soon and that the plan could largely be implemented with existing authority, with possible future legislation to bolster it. The concept resembles an IRA for adults promoted to workers without workplace plans, and experts say auto‑enrollment would be essential for real impact, though it would require Congress. The Saver’s Match itself already exists, and the proposal builds on prior ideas like auto‑IRAs and TSP‑like plans.

via CNN|

#auto-enrollment #politics #retirement-savings

politics3 months ago•5 min saved

Trump pitches universal retirement accounts for workers without 401(k)s

In his State of the Union address, Trump proposed new government-backed retirement accounts for the roughly 56 million Americans without employer-sponsored plans, modeled on the federal Thrift Savings Plan with a government match up to $1,000 per year. The plan would be portable and could attract private philanthropy, expanding provisions from Secure Act 2.0. Experts see potential to close the retirement gap but question funding and whether it will reach those most in need, with many workers still far from retirement readiness even with existing plans.

via CBS News|

#401k #politics #retirement