Executive Order

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Promoting Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov

AI Summary: This regulation establishes TrumpIRA.gov, a federally administered informational platform designed to promote retirement savings access for American workers, particularly those without access to employer-sponsored plans such as independent contractors, self-employed individuals, and part-time workers. The platform will highlight high-quality, low-cost individual retirement accounts (IRAs) offered by private-sector financial institutions that meet specific criteria, including providing a menu of investment options like life-cycle or targeted-retirement-date funds, maintaining low administrative costs with a net-expense ratio limited to 0.15 percent, and not imposing minimum contribution or balance requirements. TrumpIRA.gov will also inform eligible individuals about the Federal Saver's Match, a contribution of up to $1,000 available under the SECURE 2.0 Act, and facilitate their participation in qualifying retirement savings vehicles. The Secretary of the Treasury is tasked with establishing the website by January 1, 2027, and ensuring that qualifying individuals receive the Federal Saver's Match. Additionally, the regulation directs the Secretaries of the Treasury and Labor to issue guidance to protect workers, maintain transparency, and prevent prohibited transactions related to IRAs. Legislative recommendations will also be prepared to codify these policies.