Trump signs executive order on retirement accounts, offering up to $1,000 match
Business Insider
Last updated: May 1, 2026
President Donald Trump signed an executive order aimed at increasing retirement savings options for workers. This initiative seeks to provide access to retirement plans for individuals whose employers do not currently offer them. The order introduces new pathways for such individuals to save for their future.
- President Trump's executive order expands access to retirement savings plans for employees whose employers do not provide them. This is achieved by allowing small businesses to band together to offer pooled retirement plans, often referred to as "open multiple employer plans" or MEPs. These plans are designed to be simpler and less costly for employers to administer than traditional, single-employer plans. By pooling resources, smaller companies can achieve economies of scale, making retirement plan offerings more feasible. The goal is to encourage more Americans to save for retirement by removing some of the barriers associated with employer-sponsored plans. This move is expected to benefit a significant portion of the workforce, particularly those in small businesses or those who are self-employed. The administration highlighted that this initiative aims to address the retirement savings gap by making plans more accessible and affordable.
