00:00This afternoon I'm thrilled to sign a historic executive order expanding
00:05access to high-quality retirement savings accounts for millions of
00:09Americans. In my State of the Union earlier this year I promised to make
00:14these same types of retirement accounts enjoyed by the federal employees available
00:19to all Americans. So that's what we're doing. Beginning at the start of next
00:23year every American will be able to go to trumpira.gov and open a new low-cost
00:30IRA account. You'll then be able to access the same type of retirement
00:35accounts that federal employees enjoy through the thrift savings plans which
00:40are incredible. As part of the federal savers match program low-income Americans
00:46will be eligible to receive up to $1,000 per year in matching funds deposited
00:52directly into their accounts. It's a great thing. For millions of Americans who
00:57lack employer-sponsored plans this will be really revolutionary because they'll be
01:03covered. Nobody thought that was possible. For example, if a 25 year old who is
01:08eligible for a savers match program invests just $165 a month under the
01:13matching federal contributions, they will have an estimated $465,000 in their
01:21account by the time they're 65 years old. In other words, they'll be rich.
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