02.24.26

New Retirement Plan Announced at State of the Union Address

by: Emily Peck

President Trump announced at the State of the Union Address a new retirement plan aimed at Americans without employer-sponsored accounts. The proposal would give workers access to a federal-style retirement account and include up to $1,000 per year in government matching contributions. The plan builds on the SECURE Act and would allow people without retirement accounts to enroll through their tax returns. Supporters say it addresses the reality that millions save little or inconsistently for retirement and reflects bipartisan cooperation. However, experts note it does not resolve the looming shortfall in Social Security funding expected by 2033.

Read the full article on Axios