Trump announces new retirement plan with federal match of up to $1,000

Oh CBS bless your hearts

They should also make available the same health insurance that Congress has to everyone.

So, no mention that Biden actually passed this AND the 💩🍊takes credit for it... This is a Biden program and the 💩🍊is actually trying to cancel it

I hope so, cause my friggin part time and per diem position doesn't have any sponsored employer plan. Funny thing is, my job that i work part time at , other POSITIONs that are part time have access to one through (EMPOWER). I wonder if it is because of Union . I remember i worked for a company as a perdiem, and they gave me fidelity and matching!!!

Isn’t this what Biden set up for 2027?

Biden pundits do your homework. It's not the same. You just want to support your TDS.

Biden's 2022 Retirement Plan (SECURE 2.0 Act)

Saver's Match: Passed in 2022, this program provides a 50% federal match on retirement contributions (401(k)s, IRAs) for low- and moderate-income workers, up to $1,000 annually for individuals ($2,000 for couples).

Implementation: The match is scheduled to go into effect in 2027.

Key Features: It also increased the required minimum distribution (RMD) age to 73 (gradually to 75 by 2033) and encouraged automatic enrollment in retirement plans. 

American Century Investments +2

Trump's 2026 Proposed Retirement Plan 

Similar Framework: The proposal builds on the 2022 "Saver's Match" but focuses on creating "portable" accounts that follow workers from job to job.

Federal-Style Plan: Trump proposed modeling these accounts after the federal Thrift Savings Plan (TSP), offering low-fee investment options like S&P 500 index funds.

Focus on Coverage: The plan aims to provide access to the roughly 50 million private-sector workers who do not have employer-matched plans.

Action Plan: While the 2022 law already authorized the $1,000 match, the 2026 proposal intends to streamline the sign-up process and potentially speed up implementation. 

CBS News +6

Comparison

Similarity: Both plans center on a 50% federal match up to $1,000 for low-income savers.

Difference: Trump’s proposal focuses on making these accounts more portable and similar to the federal TSP, potentially allowing for easier, automatic, and centralized, low-fee management.

Controversy: The plan has been characterized as a bipartisan approach to a long-standing issue, though some Democrats have noted it is largely based on existing legislation from the Biden administration. 

CBS News +5

In summary, Trump's proposal adopts the foundation of the 2022 Biden-era SECURE 2.0 Act (the "Saver's Match"), with a focus on implementing it in a more streamlined"federal-style" manner for the private sector.

Taking credit for what Biden did.

Gotta say, $1K or $2K/yr ain't jack. Even a quarter million bucks ain't jack at retirement unless you have excellent insurances, a lot of passive income, a paid-for house, and zero debt.

I have a plan and it will get me votes if I say I have a plan

Oh interesting

CBS how far you have fallen

I have no 401k plan and my benefits are $0.
Why only Federal employees get additional benefits to already higher earnings than average hardworking Americans they supposed to work for?

My TSP dropped dramatically when he came into the office

So people that don’t have money have to save 1000 dollars to get the match. How many people will be able to do that if they live paycheck to paycheck?

I’m still waiting for the $2000 check he already promised. Wish in one hand sh*t in the other and see what fills up first.

In Other News that is very important, Look up, Where he said, He could stand in the middle of 5th Avenue and Shoot Someone and Not be arrested.

OMG!!! That was passed under the Biden Administration

I hate him

Trying to prop up the stock market.

Can we control where the money is invested? If not, it's just more money for the ultra-wealthy to play with.

1k 😂😂😂😂😂 while giving his billionaires friends a few hundred millions😂😂😂😅😅😅

Well SSI retired military 20 yrs retired not many at 22 join the military may have to retire some day but most young people don’t think this way

Everything he does always fails….

How about fixing the COLA in social security? I’m too old to go work another 40 years to benefit from this.

My 401k is up by 30k???? When and where did that happen?... Someone must have forgotten to deposit it in my account!

Trump, talks mad 💩 about socialism yet just announced socialism 101 for America. Hypocrisy at its finest

The only issue with this is the fact that biden approved this exact bill to go into effect in 2027 already! And before anyone loses there isht, i am not a biden fan nor ever was but he definetly did. Look it up! I call both democrats and republicans out when i see Bs. I only brought it up because as much as trump talks about biden how you took his whole plan and ran with it like its yours 😂😂😂😂 dudes hilarious and with a straight face 😅😅

More BS from Lying Donnie.

This could be a major shift. Giving workers without employer plans access to low-fee accounts and matching contributions can help close one of the biggest retirement gaps in the system.

More lies

Since Youtube/Google is controlled by the far left Silicon Valley, I always get force fed with the unwanted left propaganda (C) BS "news" on my news feed. For once, I was surprised that they had something nice to say about the new administration's proposal. That's amazing! It never happens. So I clicked. This retirement plan is great news. How can this be bad? However still, the comments are all from delusional cult members with serious cases of Trump Derangement Syndrome. There is so much hate and negativity... it's so sad... You guys in your cult, really need to take a chill pill...

Pish posh

Trump's plan...him and his kids will retire as multi billionaires. You will not.

More lies. I despise that sorry excuse for a human. A THOUSAND dollars a year? Big freaking deals. Less than $20 a week.

This is GOOD!
$1000 for my one year old grandson. Just imagine what that will be worth in 65-70 years?

Words are cheap.

Thirty thousand dollars is CRAP when the average cost for a single person just to have medical insurance exceeds 12 thousand before you even try to use it and then discover the co-pays, and amounts you have to pay before insurance pays anything, and all the costs after that. Plus the skyrocketing cost of literally everything else, food, housing, massive taxes on every penny you earn. All while people like Trump make 500 million on a single crypto scam, sue the government for 10 billion here, 230 million there, 500 million dollar airplanes, on and on.

CBS has become an embarrassment.

Nonsense.

Good then Trump we will give you 30 thousand dollars for you to retire with a great deal of money.

Finding an unhinged dem is like trying to find a needle in a pile of needles.

International stocks/markets are up more than S&P500

The wealthy own these guys, vote for new blood with no ties to the wealthy, limit funding so canidates are equal