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Employers Can Now Fund Your Kid’s Trump Account. Here’s What That Means for You
Treasury Secretary Scott Bessent, whose department announced Tuesday that employers can contribute to Trump Accounts.Credit: Tom Williams / Getty ImagesKEY TAKEAWAYSParents can sign their child up for a Trump Account, which converts to a traditional IRA when the child turns 18.Employers can contribute up to $2,500 a year to the Trump Accounts of their workers’ dependent children.Employees may also fund their children’s accounts with pretax dollars through an employer plan.Your employer’s benefits package could now include money for your child’s Trump Account.More than 50 companies, including…
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