Corporations and Philanthropists Commit Matching Funds to New Trump Savings Accounts for Children

The federal government has launched a nationwide initiative to encourage long-term saving for minors through recently created Trump accounts, and dozens of private-sector organizations are already pledging matching contributions. The program provides a one-time deposit of $1,000 from the U.S. Treasury for every child born between January 1, 2025, and December 31, 2028, who opens an account. According to Treasury officials, nearly three dozen corporations and high-profile donors have agreed to supplement those deposits, signaling broad private support for a policy aimed at expanding financial security from an early age.

Program structure and eligibility

Modeled loosely on individual retirement arrangements, the accounts are available to any U.S. resident under 18 who holds a Social Security number. Only those in the 2025-2028 birth cohort qualify for the initial Treasury deposit, but contributions from parents, relatives, employers, and other private parties are permitted for all eligible minors. Annual private contributions are capped at $5,000 per child, with individuals permitted to supply up to $2,500 of that total each year once deposits begin on July 5. Charitable groups and state governments may contribute without affecting the yearly limit.

The Treasury Department has challenged state governments to join the effort; twenty states are currently drafting or advancing proposals to provide additional funding. The agency’s stated goal is participation from all 50 states, giving the campaign a nationwide footprint.

Corporate commitments

Financial institutions represent a large share of the private organizations announcing matching programs. Commercial banks, broker-dealers, and asset managers—many with existing expertise in retirement services—have publicly disclosed plans to contribute when families make qualifying deposits. The list of participating firms now includes:

Financial and fintech sector
Acorns, Bank of America, Bank of New York Mellon, BlackRock, Charles Schwab, Chime, Citi, Empower, Investment Company Institute, JPMorgan Chase, Mastercard, Robinhood, Russell Investments, SoFi Technologies, State Street, Visa, Wells Fargo, and Block.

Technology and telecommunications
Broadcom, Coinbase, Dell Technologies, IBM, Intel, Nvidia, Charter Communications, Comcast.

Consumer, energy, and transportation
Chipotle Mexican Grill, Continental Resources, Steak ‘n Shake, Uber.

Civic and non-profit organizations
Turning Point USA and other regional philanthropies.

Contribution formulas differ by company. Many plan dollar-for-dollar matches on family deposits up to preset ceilings, while others will contribute a fixed amount for every eligible employee’s child. Specific terms are generally scheduled for release before the program’s July funding start date.

Major philanthropic pledges

Several wealthy individuals are pairing corporate efforts with large targeted donations:

• Michael and Susan Dell intend to provide $250 to each eligible child aged ten and under who resides in a ZIP code where median household income is $150,000 or less, a commitment projected at $6.25 billion.
• Ray and Barbara Dalio have earmarked $250 for roughly 300,000 Connecticut children in households below the same income threshold.
• Brad Gerstner of Altimeter Capital will fund $250 for every Indiana child younger than five who opens an account.
• Entertainment artist Nicki Minaj has allocated between $150,000 and $300,000 to accounts held by children of her fan base.

Analysts note that these targeted gifts supplement the broad corporate matches, extending the reach of the initial Treasury seed money to families in a variety of income brackets and geographic regions.

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Employer involvement and matching mechanics

Although the accounts are designed for minors, the program incorporates features familiar to workplace retirement plans. Employers may add contributions directly, mirroring the 401(k) matching model. Financial advisers suggest this framework could incentivize families to prioritize early saving, particularly when combined with the federal deposit and corporate matches.

Advocates anticipate that employer participation will expand once large service providers finalize administrative logistics. Observers also point to potential benefits for hourly and part-time workers if firms apply the same match ratios offered to salaried staff.

Comparison with existing savings vehicles

Families currently use education-focused 529 plans, custodial accounts, and traditional or Roth IRAs to save for college and other long-term goals. Trump accounts share some characteristics with these options but retain distinct tax treatment and withdrawal rules. For example, qualified education expenses from 529 plans are exempt from federal income tax on earnings, whereas withdrawals from Trump accounts will be taxed similarly to distributions from traditional IRAs.

Advocates describe the new accounts as complementary rather than competitive. They argue that households may employ a combination of tools—taking the Treasury deposit and any available match in a Trump account, while also contributing to a 529 plan for tuition-specific savings.

Administrative next steps

The Treasury Department is expected to publish formal guidelines covering account registration, contribution tracking, and reporting requirements ahead of the July launch. Financial institutions on the participating list are updating digital platforms to accommodate automated matching once deposits open.

Further details about state-level matches remain under development, although draft legislation in several jurisdictions proposes income-based supplements similar to the philanthropic models already announced.

More information on account rules is available directly from the U.S. Department of the Treasury, which is coordinating federal oversight.

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