surprising fact
A Mercer poll of roughly 350 employers in April found that just 4% of companies expected to implement Trump Account contributions in 2026 and 2027, and two-thirds decided not to make or facilitate contributions to these accounts. The remaining firms were undecided.
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big number
7 million. That’s how many children have signed up for Trump Accounts as of late July, Bessent said in a speech last month, calling the program the “most successful launch in government history.”
key background
The Treasury launched Trump Accounts on July 4 as a long-term IRA-style retirement fund that can be started by anyone under age 18 by an authorized adult. By the time the beneficiary reaches adulthood, the Trump Accounts, or 530A accounts, will convert to a traditional IRA. Family members and other contributors can add funds to the accounts on behalf of children, and the money will then be invested in U.S. stock funds and grow tax-deferred. The accounts include $1,000 seed deposits from the Treasury, with other pledges for additional seed money from billionaire Michael Dell and his wife Susan. The Treasury announced last month it would allow philanthropic contributions of “readily tradable public company stock” to support the accounts, and several executives have signaled they would contribute shares. SpaceX president Gwynne Shotwell said last month she would gift a share of SpaceX stock to each of more than 2 million children.
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further reading
ForbesBillionaires May Be Allowed Stock Donations—With Tax Benefits—To Trump AccountsBy Ty RoushForbesTreasury Debuts App For Billionaire-Backed Trump AccountsBy Ty Roush