President Donald Trump will sign an executive order Thursday directing the Treasury Department to build an online retirement marketplace, TrumpIRA.gov, for workers whose employers do not offer a plan.
The order would let workers without employer-sponsored retirement coverage choose their own plans through the website, and it would also be tied to the Saver’s Match, which gives eligible low-income workers a federal match of up to $1,000 starting next year. Workers who make less than $35,500 as individuals or $71,000 as couples could use the site to claim the benefit, and Treasury would have to have the marketplace ready by 2027, when the match goes live.
The move is the latest attempt to reach the 54 million full- or part-time workers who do not have access to an employer-provided retirement plan, according to the Economic Innovation Group. It also comes with a built-in political pitch: the Trump administration is trying to talk about affordability ahead of this year’s midterm elections, and Treasury is being told to run an awareness campaign so workers actually learn the new system exists.
Congress passed the Saver’s Match law in 2022, but 27 million people who qualify for it are not enrolled in a plan where they can collect the money. Treasury will vet the plans offered on TrumpIRA.gov, though it will not partner with specific financial institutions, and officials said the site is meant to steer workers toward a more lucrative mix of private-sector investments than the Treasury-run myRA program that Trump shut down in 2017.
That history hangs over the new push. Obama unveiled myRA in his 2014 State of the Union address, but state-run online marketplaces for retirement plans have largely fallen flat, and Trump said in 2017 that myRA’s demand was “extremely low” and did not justify its cost to taxpayers. The new order tries to avoid repeating that model by keeping Treasury in a vetting role rather than making it the house brand for a single savings product.
The administration is also going further than a website. The order would direct Treasury and the National Economic Council to draft legislative recommendations that could broaden the idea, including automatic enrollment in private-sector IRAs and expanding eligibility for the Saver’s Match. It would also tell Treasury to issue guidance on how private-sector donors could contribute to workers’ IRAs, opening another path for outside money to help fill gaps in retirement savings.
What happens next is straightforward: Trump signs the order Thursday, Treasury starts building the site, and the deadline becomes 2027, when the Saver’s Match is set to begin and the marketplace must be live. Whether workers without a plan use it in meaningful numbers will decide whether the administration has found a workable fix or just created another retirement portal that people never visit.