Trump 401(k)? The president could announce retirement plans for people whose employers don’t offer them.

MarketWatch

by Jessica Hall

February 24, 2026

AI-Generated Deep Dive Summary

President Donald Trump is considering a significant move to address retirement savings during his upcoming State of the Union address. The proposal, dubbed "Trump 401(k)," aims to expand access to retirement plans for individuals whose employers do not offer such benefits. This initiative would potentially allow workers without employer-sponsored 401(k)s to contribute to individual accounts with tax advantages, a step that could fill a critical gap in the nation's retirement savings system. The idea aligns with Trump's previous efforts to enhance retirement security, including his administration's focus on promoting tax-advantaged accounts. This new plan would particularly benefit low- and middle-income workers, small business owners, and freelancers who often lack access to employer-sponsored plans. By simplifying the process for individuals to save independently, the proposal could make it easier for more Americans to secure their financial futures. This initiative holds significant implications for the finance sector and individual investors. If implemented, it would likely stimulate savings growth and increase retirement plan adoption rates. However, questions remain about how this new system would interact with existing programs like IRAs and 403(b)s. Critics may argue that such a move could strain government resources or complicate tax policies further. Nevertheless, the proposal underscores Trump's commitment to reshaping the financial landscape for American workers, potentially offering a lifeline to those struggling to save for retirement without employer support.

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Originally published on MarketWatch on 2/24/2026