Title I of ERISA defines mandatory standards for transparency, fiduciary conduct, vesting, and claims procedures for employer-sponsored retirement plans and health/welfare plans. These rules generally will not apply to the newly established Trump Accounts.
Overview of Trump Accounts
On July 4, 2025, President Donald Trump signed a federal budget reconciliation bill that included a provision to put $1,000 each in Trump Accounts for newborns who are U.S. citizens. For babies born between January 1, 2025, and December 31, 2028, the U.S. government will deposit $1,000 into a Trump Account, invested in a stock-market index fund. The federal deposits are expected to start in July 2026. Contributions can be made by employers, family, and other organizations.
When a Trump Account is opened, the eligible individual under age eighteen is the owner and beneficiary. The money can earn interest over time and be withdrawn any time after the child turns eighteen years old. An employer can contribute up to $2,500 per year to the Trump Account of an employee’s child, and the employer’s contribution will not count toward the employee’s taxable income. The growth period occurs from the date the...
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