(The Center Square) – Employers now have guidance from the Treasury Department on how to contribute to‘Trump Accounts’for their employees’ children, and the department says more than 50 companies have already committed to offering such contributions.
The new guidance provides a framework for employers to contribute up to $2,500 annually to employees’ ‘Trump Accounts’ for their children. Employers’ contributions are considered pre-tax, meaning they will not count toward the employees’ taxable income. If employers choose to offer the benefit to their employees, their employees can also elect to contribute pre-tax dollars to those accounts.
The guidance gives "small and large businesses a new, low-cost, tax-preferred benefit they can use to help employees build wealth for their families, attract and retain workers, and strengthen Main Street over the long term,” according to a release from the department.
‘Trump Accounts’ aretax-preferred, index-basedsavings accounts for minors established by the Working Families Tax Cuts Act (formerly known as the One Big Beautiful Bill Act) passed in July 2025. A report by the Congressional Research Service describes them as “traditional IRAs that operate under special rules that may make saving more financially advantageous for children.”
Parents can set up accounts for all of their children under the age of 18, as long as they do so by the end of the calendar year before their 18th birthday. Accounts for babies born from 2025 through 2028 are eligible for a $1,000 federal seed contribution, and the administration has partnered with philanthropists who havealsoelected to offer varying seed contributions to select groups of children.
Parents, friends, relatives, philanthropists and employers can all contribute to the accounts, up to a combined total of $5,000 per year. There are no limits on contributions from charities or governments.
The department said it has already seen buy-in from dozens of major employers, with more than 50 already having committed to Trump account contributions for their employees.
“We have worked with more than 50 of the largest employers in the country to prepare them for Trump Accounts and are proud to share their outlook on this new option,” IRS Chief Executive Officer Frank Bisignano said in a statement.
The chief human resources officer for global investment management firm Vanguard said it will offer this benefit to its employees starting in 2027.
“Beginning in 2027, Vanguard will expand its well-being and lifestyle program to offer our crew members the choice to direct a $1,500 employer contribution to an eligible Trump Account,” Jon Couture said in a statement.
Visa also plans to offer the benefit to employees, promising a company match of the government’s one-time $1,000 contribution.
“530A Trump Accounts will help children build long-term financial security by ensuring they have a vested stake in their future from the very beginning. We are pleased to make Trump Accounts available to U.S. employees at Visa,” said Kelly Tullier, Visa’s vice chair, chief people and corporate affairs officer.
(The Center Square) – Longtime former NFL reporter Michele Tafoya secured the Republican nomination for U.S. Senate in Minnesota, multiple media organizations reported less than hour after the polls closed.
(The Center Square) - Republican Tom Tiffany was declared the winner of his primary for Wisconsin governor in the minutes after polls closed but who he will face in the Nov. 3 general election is far more uncertain.
(The Center Square) – U.S. Sen. Amy Klobuchar, D-Minn., notched her party's nomination in the race to replace Minnesota Gov. Tim Walz on Tuesday. Klobuchar's Republican competitor is yet to be determined at the time of publication.
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