No 401(k) plan? You could soon have a new option to save for retirement

An opportunity for more Americans to save for their retirement may be on the way. 

President Donald Trump signed an executive order on Thursday aimed at expanding access to retirement plans for workers whose employers don’t provide one.

The order, first reported by Semafor, will direct the Treasury Department to launch TrumpIRA.gov, an online marketplace where workers without employer-provided retirement plans can select a private-sector one. Here’s what to know.

How will the plan work?

The new site will launch in January 2027, timed to align with the start of Saver’s Match, a federal program enacted in 2022 under President Joe Biden to match retirement contributions, with a maximum match up to $1,000 per individual. 

To qualify for Saver’s Match, a single filer must earn less than $35,500 a year. Saver’s Match will replace the current Saver’s Credit, a nonrefundable tax credit that reduces tax owed. 

Workers will be able to filter retirement plans by factors like “cost, minimum contribution, and minimum balance,” Semafor reported. 

What else happens under the executive order?

The Treasury Department and the National Economic Council will draft legislative recommendations to expand Trump’s plan, such as automatically enrolling workers and making them eligible for the match. 

Notably, while the Treasury will vet the plans on TrumpIRA.gov, it will not partner with any financial institutions.

Roughly 60% of Americans report having access to a retirement plan such as a 401(k), a 2025 Gallup survey revealed. However, the percentage drops to just 28% for households earning less than $50,000.

Trump first addressed a plan to increase retirement savings during his 2026 State of the Union address, noting that half of all working Americans “do not have access to a retirement plan with matching contributions from an employer.”

He added: “To remedy this gross disparity, I’m announcing that next year, my administration will give these often-forgotten American workers—great people; the people that built our country—access to the same type of retirement plan offered to every federal worker.”