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These are all the companies pledging matching funds to Trump Accounts
Will initiatives that match contributions to Trump Accounts truly encourage American families to save?
Millions of Trump Accounts, the new savings vehicles for children, will be launched with a $1,000 initial deposit from the U.S. potential employer contributions, could help reshape how we approach saving for a child’s future.
How Trump Accounts work
While any child under 18 with a Social Security number is eligible to open an IRA-style savings account, only those born between Jan. 1, 2025, and Dec. 31, 2028, will receive the $1,000 one-time seed deposit from the government.
Parents, employers, family members, and friends are all permitted to contribute up to $2,500 annually, starting July 5, with a total yearly contribution cap of $5,000.
Charitable groups and state governments may also provide contributions, which are exempt from the annual limit. Treasury Secretary Scott Bessent reports that 20 U.S. states are currently working to fulfill the administration’s “50 State Challenge” to assist in funding these accounts.
Nearly three dozen companies and philanthropists have pledged to match donations. An updated list is provided below, noting that matching contributions may vary by company.
Companies pledging matching funds to Trump Accounts
Financial
Bank of New York Mellon Corporation
Block, Inc.
Micron ($250 million investment)
Consumer/Corporate
Rupert Murdoch’s News Corp. and Fox Corp.
Nonprofits and philanthropists
Michael and Susan Dell are providing eligible children aged 10 and under who live in ZIP codes with a median income of $150,000 or less a contribution of $250. The commitment is estimated at $6.25 billion.
Hedge fund founder Ray Dalio and his wife, Barbara, pledged $250 each to about 300,000 children living in Connecticut ZIP codes in households with median incomes below $150,000.
Altimeter Capital CEO Brad Gerstner said he would donate $250 to each Indiana child under 5 who has a Trump account.
Rap artist and songwriter Nicki Minaj has pledged $150,000 to $300,000 to the Trump accounts of her fans’ children.
Lindsey Stanberry, family financial advisor for Babylist.com, views this as an opportunity to “shift the conversation” in helping families save for their children’s futures as early as possible.
She notes that the employer-matching feature works much like a 401(k) plan.
“Adding the cash incentive could encourage more families to prioritize investing in these accounts,” Stanberry said. “While the goal of these accounts is to help build wealth for all American children, ultimately, it will be easier for families who have access to employer matching programs.”
She hopes to see “a growing wave of corporate participation,” and that employers will support both full-time and hourly employees.
Other child savings accounts to consider
In addition to the new Trump Accounts, families may also consider IRAs, 529 plans, and education savings accounts.
“Trump Accounts and 529 accounts are similar in that the money in them can be used to pay for college, but with a Trump Account, your child could also use the money to buy a home, or they could hold on to it to use in retirement,” Stanberry noted.
529 plans offer significantly higher contribution limits, and investment gains are tax-free when utilized for qualified educational expenses. Conversely, investment earnings in Trump Accounts are taxed upon withdrawal, similar to traditional IRAs.
“I think of these like tools in a toolbox, and you don’t have to choose just one,” Stanberry added. “Families can open a Trump Account to take advantage of the $1,000 seed money and any employer match while also contributing to a 529 to maximize their child’s educational funding.”
Trump accounts vs. IRAs and 529s: How do they stack up?
Trump accounts share some similarities with traditional IRAs and 529 college savings accounts. Here’s what to know if you’re saving for college, and other accounts to consider.
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Trump Accounts could get pretax paycheck contributions under Treasury and IRS proposals. Here’s a rundown of the latest guidelines for workers and employers.
Trump Account eligibility: Who qualifies for the $1,000 government deposit?
Learn who qualifies for the $1,000 Trump Account deposit and if your child is eligible for other private contributions.
What is a Trump Account? A complete guide to the new savings program for kids.
Learn how Trump Accounts work, including withdrawal rules, taxes, <a s benefits.
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