The

proposal
would
complement
the
administration’s
broader
push
to
combat
cost-of-living
increases,
which
has
centered
in
part
on
a
children’s
savings
initiative
known
as
Trump
Accounts.

One
option
under
consideration
is
to
revive
former
President
Barack
Obama’s
myRA
program,
which
Trump
ended
in
2017
after
citing
high
costs.

Obama
introduced
myRA,
described
as
a
“voluntary,
low-risk,
no-fee
federal
retirement
savings
program,”
during
his

2014
State
of
the
Union
address.
The
program
ultimately
enrolled
about
30,000
participants.

Another
option
under
discussion,
Semafor
reported,
is
to
pair
a
new
plan
with
the
Saver’s
Match,
a
federal
contribution
set
to
take
effect
in
2027
under
the
SECURE
2.0
Act.

The
provision
replaces
the
Saver’s
Credit
with
a
refundable
match
equal
to
50%
of
up
to
$2,000
in
retirement
contributions,
with
a
maximum
annual
deposit
of
$1,000
into
eligible
accounts,
even
for
filers
with
no
tax
liability,
according
to

Congress.

Kevin
Hassett,
director
of
the

White

House
National
Economic
Council,
has
long
supported
a
similar
concept.
During
the
Biden
administration,
Hassett
urged
lawmakers
to
advance
legislation
that
would
replicate
the
federal
government’s
Thrift
Savings
Plan
for
private-sector
workers
who
lack
employer-sponsored
retirement
coverage.

Sens.
John
Hickenlooper
(D-Colo.)
and
Thom
Tillis
(R-N.C.),
along
with
Reps.
Lloyd
Smucker
(R-Pa.)
and
Terri
Sewell
(D-Ala.),
reintroduced
that
proposal
last
year.

Trump
formerly
praised

Australia’s
retirement
savings
system,
known
as
superannuation,
during
a
December
press
conference.
He
told
reporters
that
officials
are
reviewing
“a
certain
Australian
plan
that
people
are
liking,”
Newsweek
reported.