DOL: Trump Accounts Not Subject to ERISA Standards
On June 17, 2026, the U.S. Department of Labor (DOL) issued a technical release confirming that employer contributions to a child’s Trump Account won’t be subject to Title I of the Employee Retirement Income Security Act (ERISA). 0:00 8:21 Quick Hits A new technical release from the DOL states that Trump Accounts for children are not “employee pension benefit plans” governed by ERISA. Employers and employees can contribute to Trump Accounts for children. Pilot program deposits of $1,000 each from the federal government will begin in July 2026. Title I of ERISA defines mandatory standards for transparency, fiduciary conduct, vesting, and claims procedures for employer-sponsored retirement plans and health/welfare plans. These rules generally will not apply to the newly established Trump Accounts. Overview of Trump Accounts On July 4, 2025, President Donald Trump signed a federal budget reconciliation bill that included a provision to put $1,000 each in Trump Accounts for newborns who ...