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Home » Transcript: Trump Signs Executive Order on Retirement Savings – 04/30/26

Transcript: Trump Signs Executive Order on Retirement Savings – 04/30/26

Editor’s Notes: On April 30, 2026, President Donald Trump held an event at the White House to sign several key executive orders and proclamations, primarily focused on expanding financial security and infrastructure. The centerpiece of the event was the signing of an executive order to create “Trump IRAs,” which aims to provide millions of Americans with access to high-quality, low-cost retirement savings accounts similar to those used by federal employees. Beyond retirement policy, the President authorized a new permit for the Bridger pipeline and signed measures regarding federal contracting defaults and the nomination of a new Surgeon General. The session concluded with an extensive Q&A where Trump discussed the “Trump Renaissance” in the economy, recent military actions in Iran and Venezuela, and his views on the legislative filibuster. (April 30, 2026)

TRANSCRIPT:

PRESIDENT DONALD TRUMP: Well, thank you very much, everybody. We very much appreciate it. This is a big afternoon. You all are, in a way, because all of these things that we do are very important.

Expanding Access to Retirement Savings Accounts

This afternoon, I’m thrilled to sign a historic executive order expanding access to high-quality retirement savings accounts for millions of Americans. In my State of the Union earlier this year, I promised to make these same types of retirement accounts enjoyed by the federal employees available to all Americans. So that’s what we’re doing. It only seemed fair. It’s a tremendous — it’s really a tremendous situation for all Americans. It was really much promises made, as I say, promises kept.

I’m thrilled to be joined by incredible people that I know in the Warriors. Jason Smith — these are congresspeople —  Bryan Steil, Mike Carey, Lloyd Smucker, Bill Huizenga, Ryan Mackenzie, John McGuire, Zach Nunn, Derrick Van Orden, Jeff Crank, Nick Begich, Monica De La Cruz, and Mike Lawler. Warriors, every one of them, they’re great people. They fought very hard for what we’re about to sign.

Stock Market Records and 401k Growth Under Trump

And since my election, the stock market has set 59 — this is in a little bit more than a year — 59 all-time record highs, adding $9 trillion in value to, really, the value of our country, if you think about it. Under four years of Biden, the average 401k rose at a rate of just $875 a year. Last year, under Trump, the average 401k balance was up $24,000. So $875 versus $24,000, I would say that’s pretty good. This is really incredible. The numbers are incredible.

The numbers being invested in our country are more incredible than anything. You see it. There are plants being built all over — all over the USA. We have auto plants. Not just AI. AI is doing great. We’re leading China by quite a bit. But we have auto plants being built all over the country. They’re coming back from Canada. They’re coming back from Mexico, Germany, Japan, South Korea. Wherever they build autos, they’re coming here. Nobody ever thought they’d see that. The union loves me. You know, I did very well with the autoworkers, but they like me a lot more now than they did when I was just talking about it.

TrumpIRA.gov and the Federal Savers Match Program

Beginning at the start of next year, every American will be able to go to trumpira.gov and open a new low-cost IRA account. You’ll then be able to access the same type of retirement accounts that federal employees enjoy through the Thrift Savings Plans, which are incredible. As part of the federal Saver’s Match program, low-income Americans will be eligible to receive up to $1,000 per year in matching funds deposited directly into their accounts. It’s a great thing.

For millions of Americans who lack employer-sponsored plans, this will be really revolutionary because they’ll be covered. Nobody thought that was possible. For example, if a 25-year-old who is eligible for a Saver’s Match program invests just $165 a month under the matching federal contributions, they will have an estimated $465,000 in their account by the time they’re 65 years old. In other words, they’ll be rich. And there’s something awfully nice about that.

The Next Level: Congressional Approval Required

But this is only the first step. I was talking to Kevin Hassett a little while ago, and the people standing right behind me, we’re going to take it to the next level. And the next level, Kevin, you’re going to mention something, but the next level will be necessary to have congressional approval. What you just heard, we don’t need congressional approval. And it’ll never be terminated, because to terminate it, if somebody else is in office to terminate it, you’d have to take that money away. You’d have to really take away something that’s so positive. I don’t think any politician would do it.

But to take it to the next level, we need congressional approval, which should be very easy to get. It should be bipartisan. Normally, it would be bipartisan, but today, nothing’s bipartisan. I mean, it should be something that everybody supports.

Expanding Retirement Access for All Americans

So, before we start, maybe you could just explain what we’re talking about for the next level.

KEVIN: Right. So, for the next level, sir, what we’re already talking, Chairman Smith and I, about, and I’ve been talking with Mr. Smucker about this for a number of years, is that we’re going to expand this program that you’re creating here, which is for low-income people, to middle-income people and maybe above as well, so that every American — you know, most high-income people have an employer that gives them a 401k with a match, but low-income people or Uber drivers or something, they don’t have access to that, they don’t have access to the match.

What we’ve done here is you’ve given the match to low-income people with incomes below $35,000, but we think that there are a lot of people, even who make more than that, that don’t have many assets for retirement, and so we’re working with Congress to significantly expand this program and are looking forward for legislation this year to expand this.

TRUMP: And also, the Trump accounts, you remember, with Michael Dell and Susan and the group that we had, are setting records.