Australia’s
retirement
system
centers
on
“superannuation,”
which
requires
employers
to
contribute
to
private,
tax-advantaged
funds
that
grow
until
workers
retire.
Workers
can
add
voluntary
contributions
and
accounts
increase
over
time
through
investment
returns.

The
administration’s
interest
in
similar
policies
comes
as

Social
Security
and

Medicare
face
mounting
financial
strains.
Federal
trustees
warn
that
Social
Security’s
main
trust
fund
will
be
unable
to
pay
full
benefits
after
2033.

The
proposed
plan
comes
at
a
time
when
American
retirees
are
facing
shortfalls.
Even
though
millions
of
older
Americans

will
get
a
2.8%
boost
in
their
Social
Security
checks
starting
in
January,
experts
say
the
cost-of-living
adjustment
won’t
keep
pace
with
rising
expenses
such
as
food,
housing
and
health
care.

Trump
described
the
retirement
plan
as
a
program
for
“working
adults,”
and
said
it
is
separate
from
new
child
investment
accounts
included
in
his
tax
and
spending
package.

Trump
made
the
remarks
at
an
event
where
Michael
and
Susan
Dell
pledged
$6.25
billion
to
support
Trump
Accounts,
which
aim
to
provide
investment
accounts
for
25
million
children.

As
a
result,
the

U.S.
Department
of
the
Treasury
will
deposit
$1,000
into
accounts
for
children
born
from
Jan.
1,
2025,
through
Dec.
31,
2028.
The
Dells’
donation
will
give
$250
to
eligible
children
10
and
under
in
lower-income
ZIP
codes
who
won’t
receive
the
Treasury’s
$1,000
contribution.