Trump to Sign Executive Order Expanding Retirement Plan Access
President Trump prepares to sign an executive order expanding access to retirement accounts via a new platform (TrumpIRA.gov), to enable more workers to claim a $1,000 government match.
lead
,
Romina Boccia, director of budget and entitlement policy at the Cato Institute, is available to comment on the proposal:
Key points:
- The executive order directs the Treasury to launch a website allowing workers without employer plans to shop for private retirement accounts and access the Saver’s Match.
- The Saver’s Match created under SECURE 2.0 will provide a 50% match on up to $2,000 in retirement contributions (max $1,000), beginning in 2027. It’s only available to workers who have retirement accounts.
- The full match is limited to single filers earning under $20,500, phasing out completely at $35,500.
- The Joint Committee on Taxation estimated that the current Saver’s Match would reduce federal revenues by $9.3 billion from 2028–2032. If automatic enrollment doubled participation, costs could exceed $20 billion in the first five years alone.
- The order will reportedly task Treasury and the National Economic Council with drafting legislative recommendations that could include automatically enrolling workers and making more workers eligible for the match. Boccia covered relevant bipartisan legislation in a Washington Post op-ed this week: https://www.cato.org/commentary/trump-wants-help-forgotten-american-workers-retire-dont-be-fooled
Boccia’s Take:
“Expanding government-backed retirement accounts may sound appealing, but it ignores how lower-income households actually save — and fails to address the real retirement crisis: Social Security’s looming insolvency. Policymakers are layering new spending commitments, with uncertain benefits for lower-income households on top of a system already facing a $28 trillion shortfall.”
Romina can also speak to:
- Why automatic enrollment may backfire for low-income workers
- The political coalition (“bootleggers and Baptists”) behind the proposal
- Alternative approaches, including flexible universal savings accounts
- Why Social Security reform remains the most urgent priority
To speak with Boccia, please reach out to Emily at esalamon@cato.org
Source: https://www.cato.org/news-releases/trump-sign-executive-order-expanding-retirement-plan-access
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

