Treasury Auto-Enrolls 70 Million Children in Trump Accounts, Requiring Parents to Activate
Updated
Updated · Los Angeles Times · Nov 1
Treasury Auto-Enrolls 70 Million Children in Trump Accounts, Requiring Parents to Activate
3 articles · Updated · Los Angeles Times · Nov 1
Summary
About 70 million eligible children with valid Social Security numbers now have Trump Accounts through automatic enrollment, up from roughly 8 million accounts created since the program launched in July.
Parents or legal guardians still must formally claim and activate the accounts through trumpaccounts.gov or the mobile app, and eligible families must elect the one-time $1,000 government seed contribution.
That $1,000 applies to U.S.-citizen babies born from Jan. 1, 2025, through Dec. 31, 2028; older children can still participate, with some eligible for $250 from separate donor-funded investments.
Families can contribute up to $2,500 a year in pretax income, with total annual contributions capped at $5,000 excluding government and charity money, while private banks and brokerages manage the investments.
Researchers backing automatic enrollment called it a key inclusion feature, but warned activation steps and out-of-pocket contributions could still limit participation and widen wealth gaps.