Statement on Executive Order on Retirement

Today, April 30, 2026, President Trump took action through an Executive Order (EO) to move forward with a plan first outlined in his 2026 State of the Union address to expand access to retirement plans for millions of Americans whose employers do not provide one. The EO instructs the Treasury Department to launch an online platform, TrumpIRA.gov, by January 1, 2027, for retirement accounts where workers without employer-provided retirement plans can choose their own. To be highlighted in the platform, institutions must offer retirement funds similar in type to what federal workers can access with low costs and no minimum contribution or minimum balance requirements.

For lower-income workers, these accounts can be used to claim the Saver’s Match, a SECURE 2.0 program that directs the federal government to match contributions from low- and moderate-income workers with up to $1,000 starting next year. In addition, Treasury and the IRS are directed to issue guidance clarifying when and how philanthropic nonprofits can contribute directly to an IRA of a low- or moderate-income worker without risking a nonprofit’s tax-exempt status. The EO states that “[it] is the policy of the United States to promote high-quality, low-cost individual retirement accounts (IRAs) offered by private-sector financial institutions that meet objective standards of cost, transparency, and fiduciary responsibility.”

CFP Board is still reviewing the EO but welcomes the Administration’s focus on retirement security for all Americans. After a lifetime of hard work, Americans want and deserve the peace of mind that financial security brings them in their later years. However, for far too many people, a dignified retirement and financial independence remain an elusive goal with only half of all private-sector employees in the United States having access to an employer-provided retirement plan.

To help Americans reach their retirement goals, CFP Board continues to urge Congress and the Administration to expand access to competent and ethical financial planning, including through tax incentives for financial planning. According to CFP Board research, only 1 in 4 Americans feel financially prepared for retirement and only 37% of those aged 45 to 60 are satisfied with their retirement savings accumulation. CFP® professionals are uniquely positioned to bridge this gap, reporting that retirement planning topped the list of personal finance topics they are discussing with their clients this year. The benefits of the professional advice they receive are clear. According to CFP Board’s most recent report on its ten-year study of the impact of holistic financial planning:

• 94% of households advised by CFP® professionals feel confident in their ability to achieve financial goals.
• 83% maintain an emergency fund covering three months of income, ensuring that retirement savings remain protected during periods of economic volatility.

CFP Board remains committed to working with policymakers to ensure Americans receive the retirement they deserve.