Trump Orders New IRA Marketplace to Expand Retirement Savings for Uncovered Workers

President Donald Trump signed an executive order on Thursday, August 14, 2025, to expand access to retirement savings for workers whose employers do not offer retirement plans.

The order, first reported by Semafor, directs the Treasury Department to launch TrumpIRA.gov, an online marketplace where eligible workers can select private-sector retirement plans. The platform is designed to address a significant gap in retirement savings access across the U.S.

How the New Retirement Marketplace Will Work

The TrumpIRA.gov marketplace is scheduled to launch in January 2027, coinciding with the implementation of the Saver’s Match program. Enacted in 2022 under President Joe Biden, Saver’s Match replaces the existing Saver’s Credit and offers a federal match on retirement contributions, with a maximum match of up to $1,000 per individual.

To qualify for Saver’s Match, a single filer must earn less than $35,500. The program is structured to provide greater financial support to lower-income workers saving for retirement.

Workers using TrumpIRA.gov will be able to filter retirement plans based on key factors such as cost, minimum contribution, and minimum balance, as reported by Semafor.

Key Provisions of the Executive Order

The Treasury Department and the National Economic Council will draft legislative recommendations to further expand the initiative. Proposed measures include automatically enrolling workers and making them eligible for the Saver’s Match.

Notably, while the Treasury will vet the plans listed on TrumpIRA.gov, it will not partner with any financial institutions to administer the marketplace.

Retirement Savings Gaps in the U.S.

According to a 2025 Gallup survey, approximately 60% of Americans report having access to a retirement plan such as a 401(k). However, this figure drops sharply to just 28% for households earning less than $50,000 annually.

During his 2026 State of the Union address, Trump highlighted the disparity, stating that half of all working Americans lack access to employer-sponsored retirement plans with matching contributions.

“To remedy this gross disparity, I’m announcing that next year, my administration will give these often-forgotten American workers—great people; the people that built our country—access to the same type of retirement plan offered to every federal worker.”