Trump pitches universal retirement account to expand private-sector saving

Trump used the State of the Union to promote a universal, portable retirement account for private‑sector workers who lack access to an employer plan, featuring diversified, low‑cost options and a Saver’s Match that could add up to $1,000 annually for eligible savers. The White House says details will come soon and that the plan could largely be implemented with existing authority, with possible future legislation to bolster it. The concept resembles an IRA for adults promoted to workers without workplace plans, and experts say auto‑enrollment would be essential for real impact, though it would require Congress. The Saver’s Match itself already exists, and the proposal builds on prior ideas like auto‑IRAs and TSP‑like plans.