Summary
President Donald Trump announced a plan during the State of the Union address to provide federal matching for retirement accounts for workers without employer-matched plans. The government will match contributions up to $1,000 each year. The initiative aims to help more Americans benefit from retirement savings.
Key Facts
- President Trump proposed a plan for retirement accounts with federal matching.
- This plan targets workers who do not have employer-matched retirement plans.
- The federal government will match contributions up to $1,000 annually.
- Trump mentioned this initiative during his State of the Union address.
- The plan aims to give more Americans access to better retirement savings options.
- Trump stated that half of working Americans lack access to such retirement plans.
- The address follows 13 months of Trump's initiatives like deregulation and executive actions.
