Trump Orders TrumpIRA.gov by Jan. 1, 2027 as He Weighs Australia’s 12% Retirement Model
Updated
Updated · USA TODAY · Jul 16
Trump Orders TrumpIRA.gov by Jan. 1, 2027 as He Weighs Australia’s 12% Retirement Model
1 articles · Updated · USA TODAY · Jul 16
Summary
Trump’s executive order creates TrumpIRA.gov, a portal due by Jan. 1, 2027 for workers whose employers do not offer 401(k)-type plans to enroll in private retirement accounts.
The push comes as Social Security’s trust fund faces possible insolvency by 2032, with AARP estimating the program could then pay only about 83% of scheduled benefits.
Australia’s system, which Trump has praised, requires employers to contribute 12% of wages into retirement accounts and pairs that with a means-tested public pension; Mercer’s 2025 index graded Australia B+ versus the U.S. at C+.
Experts split on whether the U.S. should go further: supporters say mandatory saving could ease pressure on Social Security, while critics warn it would squeeze low-income workers and cannot easily replace benefits that now reach $62,172 a year.
Can Australia’s mandatory savings model rescue the American dream of a secure retirement?
What is the true cost for small businesses if a 12% mandatory retirement contribution becomes law?
TrumpIRA.gov: America’s $1 Trillion Retirement Revolution—How a New Federal Program Aims to Close the Savings Gap by 2027
Overview
TrumpIRA.gov, launching January 1, 2027, is a major new federal initiative designed to enhance retirement savings for American workers. The program aims to establish a universal retirement system that complements Social Security, addressing a long-standing need in the U.S. retirement landscape. Inspired by research from Teresa Ghilarducci and Kevin Hassett, TrumpIRA.gov focuses on expanding access to retirement savings, especially for those who currently lack employer-sponsored plans. By building on proven ideas and targeting underserved workers, the initiative seeks to make retirement security more accessible and effective for millions of Americans.