In President Trump’s State of the Union address this week, he touted a number of new investments that he said exemplify the administration’s commitment to advancing Americans’ financial security. Chief among them is the new Trump account program—an initiative that may continue to shape employers’ evolving approaches to employee wellbeing.
Trump accounts were included as a provision of the One Big Beautiful Bill Act, passed last year, with details on the program now starting to come together.
The accounts function as traditional IRAs, designed to help American families save for their children’s future. For kids born between 2025-28, the federal government—with a $6 billion investment from the Dell family—will provide a seed contribution of $1,000, and families can contribute up to $5,000 each year.
Employers are also allowed to contribute up to $2,500 annually to the accounts.
Contributions can begin this coming July 4, meaning employers need to be strategizing today, according to Melissa Elbert, partner, wealth solutions at Aon.
“Most of the conversations we’re seeing now are really about employers trying to understand what these accounts are,” Elbert says. “They’re a brand-new savings vehicle and organizations need to be thinking about how they could fit into overall benefits strategy.”
A ‘reset’ on employee financial health
Elbert says many employers are looking to the accounts as “another opportunity” to broaden the financial wellness elements of their benefits approach, an evolution that has been underway for a number of years.
More support is something employees need right now: Recent research highlighted that employee financial stress hit at an all-time high at the start of this year, and workers want their employers more engaged in their financial health. A report from Bank of America found that the number of American workers looking to their organization for financial guidance and resources doubled between 2024-25.
As healthcare costs have soared, inflation and recessionary fears in recent years have kept many American employees from focusing on their long-term financial health—and that of their children.
Some organizations are now looking to the Trump accounts as a way to “reset” the conversation on employee financial health.
“They want to use these to refresh their financial wellbeing communication—connecting to the financial stresses employees have today, and linking to the importance of retirement savings and benefits available across generations,” Elbert says.
Organizations can use the opportunity, she adds, to help reestablish the organization as a trusted source of financial education and support for the workforce.
Given the president’s name is attached to the program—and the deep political divides in the country—the employers Aon has consulted with are “being deliberate” about keeping politics out of the conversation.
“They’re keeping their message simple and focusing on what the program actually means for financial wellbeing,” Elbert says, “not the politics around it.”
More guidance needed
So far, large employers like IBM, Comcast, Chipotle and Bank of America have announced they will participate in the Trump accounts program.
In a recent poll during a webinar with employers, Mercer found that about 16% of those on the call will participate, either through direct contributions or by allowing employees to make pre-tax contributions, while about half don’t intend to.
Of those considering the program, only about 5% expect to get it off the ground this year and about 2% are looking at next year; meanwhile, more than one-third are awaiting further guidance.
“While immediate adoption is not widespread, Trump account contribution programs are part of broader benefits discussions, making this an appropriate time for employers to monitor regulatory developments, assess employee interest and evaluate whether future participation may align with their overall benefits strategy,” Mercer wrote in a recent blog.
Elbert says Aon is seeing a significant amount of interest from employers in more guidance about the cafeteria plan element that would allow employees to make pre-tax contributions.
“That’s the area where employers, particularly HR, have the most questions,” she says, “because it’s a brand new infrastructure that’s not in place yet, so we have to see how it’s going to work.”
The administration is expected to issue guidance on account establishment in the coming days, with more details about employer support early this spring.
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