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Under the order, the Treasury Department will launch TrumpIRA.gov, where workers are able to choose their own retirement plans. Americans who make less than $35,500 per year individually or less than $71,000 as a couple can use the site to claim the Saver’s Match.

“I’m thrilled to sign a historic executive order expanding access to high-quality retirement savings accounts for millions of Americans,” Trump said before signing the order in the Oval Office.

“In my State of the Union earlier this year, I promised to make the same types of retirement accounts enjoyed by federal employees available to all Americans, so that’s what we’re doing,” he said.

The new federal retirement contribution originates from legislation that Congress passed in 2022 during the Biden administration, in which the federal government matches contributions for low-income workers.