A new Trump executive order could reshape retirement savings — who qualifies and when changes begin

For millions of Americans, saving for retirement isn't just difficult, it's out of reach. Roughly 56 million workers don't have access to a 401(k) or other employer-sponsored retirement plan, according to research from The Pew Charitable Trusts (1). Without those tools, building long-term savings becomes far less likely.

Last week, President Donald Trump signed a new executive order aimed at closing that gap (2). The order directs the Treasury Department to build a new federal website where workers without access to employer-sponsored retirement plans can compare and enroll in individual retirement accounts and, if eligible, receive a government savings match.

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The changes could expand access to retirement tools for millions. But how much they ultimately help will depend on who signs up and what happens next in Congress.

Here's who qualifies, when the changes begin and what it could mean for your money.

The executive order targets workers who don't currently have access to a workplace retirement plan, including many part-time employees, contractors and small business workers.

At the center of the plan is a new website, TrumpIRA.gov, expected to launch in 2027. The platform will allow users to compare and enroll in private-sector individual retirement accounts (IRAs), similar to how workers choose plans through employer-sponsored systems.

While the accounts themselves won't be run by the federal government, the site is designed to make retirement options easier to find and potentially more competitive on cost and features.

A key feature is the integration of the Saver's Match, a provision created under the 2022 Secure 2.0 legislation. Starting in the 2027 tax year, eligible workers can receive a government match of up to $1,000 annually when they contribute to a qualifying retirement account.

Single filers with a modified adjusted gross income of up to about $20,500 (or joint filers up to $41,000) can qualify for the full match

The benefit phases out for single filers earning up to $35,500 and joint filers earning up to $71,000

The match is designed to boost participation among lower- and moderate-income workers, who are less likely to have access to employer plans and often save less overall.

It's worth noting that the executive order builds on existing policy rather than creating an entirely new system. More than 20 states already offer auto-IRA programs, and the Saver's Match was signed into law before this order. The new push aims to connect those pieces and bring more workers into the system.

Most of the changes won't take effect immediately. The TrumpIRA.gov platform is expected to go live by January 2027, with the Saver's Match also kicking in for the 2027 tax year. Any broader expansion, such as increasing the match or automatically enrolling workers, would require additional legislation from Congress.

That next step could make a significant difference. Research from Morningstar suggests that combining features like automatic enrollment, higher matching contributions and expanded eligibility could dramatically improve retirement outcomes. In one modeled scenario, U.S. retirement wealth increased by as much as 77% over time (4).

Even more modest changes could have an impact. Morningstar estimates that automatic enrollment alone could bring more than 30 million new savers into the system and increase overall retirement wealth by about 28% (5).

The reason is simple: participation drives results.

"If it's a voluntary enrollment kind of structure, we would not expect a lot of take up," one Morningstar researcher noted, pointing to the importance of making saving automatic rather than optional (6).

For now, the executive order represents a step toward expanding access. But for workers who qualify for the Saver's Match or gain access to a new IRA option, contributing regularly — even in small amounts — could make a meaningful difference over time. In other words, the tools may be improving. But building a retirement nest egg will still depend on what you do with them.

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We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.

The Pew Charitable Trusts (1); AARP (2); CNBC (3),(6); Morningstar (4),(5)

This article originally appeared on Moneywise.com under the title: A new Trump executive order could reshape retirement savings — who qualifies and when changes begin

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