From 2027, taxpayers will have access to a powerful new retirement tool: a federal matching contribution of up to $1,000 per year for eligible savers, if their employer (or themselves if self-employed) does not offer a 401(k) or similar plan (note that plenty of States have requirements for employers). This new option builds on the “Saver’s Match” and is being paired with a new federal portal, TrumpIRA.gov, to help uncovered workers open low‑cost individual retirement accounts (IRAs) that can receive the match for 50% of taxpayer contributions (maxed at $2,000 contribution, which means a $1,000 government match).

This new Saver’s Match will replace the current Saver’s Credit and is designed to make the benefit more tangible for lower‑income workers. The benefit phasing out as income rises and ending around $35,500 of income for single; for married couples filing jointly, the match phases out and ends around $71,000. This means many servers, retail workers, gig workers, and employees of small businesses—who often do not have access to employer plans—may qualify if they are willing to put something into an IRA or other qualifying account.

The executive order behind TrumpIRA.gov directs the Treasury Department to create a federal website that will list private‑sector IRAs meeting strict standards: no minimum balances, low fees (with total expenses capped at a very low level), diversified or principal‑protecting investment options, and the ability to accept federal matching contributions. Major outlets such as AP, USA Today, AARP, and U.S. News report that the new portal and the federal match together are expected to make this benefit available to tens of millions of workers who currently lack an employer‑sponsored plan. Importantly, the government match does not count against your normal IRA or plan contribution limits, so it is truly additional money going into your retirement.

At GG CPA Services, if you think you—or your employees—might be eligible for up to a $1,000 federal match beginning with the 2027 tax year, contact us so we can review your situation and build a practical plan to take full advantage of this new incentive.

 

Link CNBC – Trump signs executive order expanding retirement account access for workers

Link Bloomberglaw – Trump’s Retirement Account Push Meets Low-Income Savers’ Reality