Millions Could Qualify for TrumpIRA—But There’s a Catch if Your State Has an Auto-IRA

Workers review retirement savings options as new federal programs, including the TrumpIRA and Saver’s Match, prepare to launch in 2027 alongside existing state Auto-IRA plans, creating new opportunities (and new questions) for millions of Americans planning for retirement. Jonah Elkowitz/Shutterstock

The Saver’s Match law passed in 2022, and an executive order creating the TrumpIRA will offer combined retirement savings for up to 26 million low-income Americans beginning January 1, 2027. The two measures are an effort to narrow the retirement savings gap, but they do not always align with state plans already in place. Here is how they will work.

What is the TrumpIRA?