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A new executive order signed by President Donald Trump aims to expand retirement access for millions of American workers who lack employer-sponsored plans, marking a significant shift in federal retirement policy ahead of a planned rollout in 2027.
The order directs the Treasury Department to establish a new online platform, TrumpIRA.gov, where eligible workers will be able to enroll in private-sector Individual Retirement Accounts, commonly known as IRAs. The website is scheduled to launch on Jan. 1, 2027, and is expected to target workers who currently fall outside traditional retirement systems, including independent contractors, part-time employees, and those working for small businesses.
The initiative aligns with the upcoming implementation of the Saver’s Match program, a federal incentive designed to boost retirement savings among lower-income Americans. Under the program, eligible individuals can receive up to $1,000 annually in matching contributions, while married couples filing jointly may qualify for up to $2,000.
According to a 2024 analysis by Pew Research Center, approximately 22 million Americans could benefit from the Saver’s Match. To qualify for the maximum 50 percent match rate, joint filers must earn $41,000 or less, while single filers must earn under $35,500. Partial matches extend to higher income thresholds, with eligibility capped at $71,000 for joint filers, based on data from Retirement Clearinghouse.
The Saver’s Match is expected to disproportionately benefit younger workers, as well as women and minority groups with historically lower access to retirement savings tools. Research conducted by Retirement Clearinghouse in partnership with Boston Research Technologies indicates that Black and Hispanic workers are likely to make up a substantial share of program participants. These groups tend to be younger and have lower incomes and smaller retirement account balances compared to their White counterparts, highlighting longstanding disparities in retirement preparedness.
Advocacy groups have also underscored the scale of the issue. AARP estimates that roughly 56 million workers in the United States currently lack access to employer-sponsored retirement plans such as pensions or 401(k)s. This population includes gig workers, freelancers, and employees of smaller firms, many of whom face structural barriers to saving for retirement.
The White House has framed the executive order as part of a broader effort to modernize retirement access and improve long-term financial security. Administration officials say the policy is designed to expand investment options and create more pathways for workers to build retirement savings independently of traditional employment structures.
In addition to launching the new platform, the administration is expected to work with Congress to broaden eligibility for the Saver’s Match and potentially increase contribution limits in the future.
At the state level, momentum has already been building. Twenty states have implemented auto-IRA programs aimed at workers without employer-sponsored plans, with more than one million Americans currently enrolled. A report from Morningstar suggests that a nationwide auto-IRA program could bring an additional 32 million workers into the retirement savings system.
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