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Trump on Social Security, 401k during State of the Union
Trump announced a plan to give workers without employer retirement plans a 401k match up to $1,000.
WASHINGTON - During Donald Trump’s State of the Union address on Tuesday, the president announced a retirement-savings plan for workers who don’t have access to one through their employer.
The plan is a move to address Americans’ economic concerns.
Trump announces 401k match for those without employer contribution
What they're saying:
"Your 401ks are way up, yet half of all of working Americans still do not have access to a retirement plan with matching contributions from an employer," Trump said during his speech. "To remedy this gross disparity, I'm announcing that next year my administration will give these often forgotten American workers, great people, the people that built our country, access to the same type of retirement plan offered to every federal worker."
President Donald Trump delivers his State of the Union address during a Joint Session of Congress at the U.S. Capitol on February 24, 2026, in Washington, DC. (Credit: Win McNamee/Getty Images)
He continued: "We will match your contribution with up to $1,000 each year, as we ensure that all Americans can profit from a rising stock market."
He didn't elaborate on where in the federal budget the proposed matched money may come from.
Dow Jones hits record 50,000 points for first time
The backstory:
Earlier this month, the S&P 500 jumped 2% for its best day since May.
RELATED: Dow Jones hits record 50,000 points for first time: What to know
The Dow Jones Industrial Average soared roughly 1,200 points and topped the 50,000 level for the first time.
Big picture view:
According to the organization the Economic Innovation Group, more than 40 million American workers, including about 42% of full-time employees, lack access to employer-sponsored retirement plans. For part-time workers, this number rises to 79% of whom lack access to a retirement plan.
The Source: This story was reported from Los Angeles.