January 29, 2026
JPMorgan Chase and Bank of America join a growing list of major U.S. corporations matching contributions to enroll employees in the new “Trump Accounts” program.
Major U.S. banks are supporting President Donald Trump’s newly announced “Trump Accounts” by contributing $1,000 for each of their employees.
On Jan. 28, JPMorgan Chase, Bank of America, and Wells Fargo announced they will match the U.S. government’s one-time $1,000 contribution to their employees who open a children’s retirement account, known as “Trump Accounts,” CNBC reports. The moves coincide with Trump’s promotion of his pilot program, which deposits $1,000 from the Treasury into tax-advantaged accounts for children born in the U.S. between Jan. 1, 2025, and Dec. 31, 2028.
“JPMorgan Chase has demonstrated a long-term commitment to the financial health and well-being of all of our employees and their families around the world, including more than 190,000 here in the United States,” CEO Jamie Dimon said in a release. “By matching this contribution, we’re making it easier for them to start saving early, invest wisely, and plan for their family’s financial future.”
Partly conceived by hedge fund manager Brad Gerstner, the program reportedly seeks to narrow the U.S. wealth gap by promoting long-term saving and investing from birth. Since its unveiling, it has drawn commitments from high-profile figures, including billionaires Michael and Susan Dell, Ray Dalio, and, most recently, rapper Nicki Minaj.
Bank of America announced it will match the government’s $1,000 contribution for eligible employees and allow workers to make pre-tax contributions to their children’s Trump Accounts. In a memo to staff, the bank praised the government’s “innovative solutions” for employee savings.
“We applaud that the federal government is providing innovative solutions for employees and families to plan for their future, and we welcome the opportunity to participate,” Bank of America said.
JPMorgan and Bank of America, the nation’s two largest banks by assets, join other major financial firms—including BlackRock, BNY, Robinhood, SoFi, and Charles Schwab—in matching contributions for the new accounts. Other companies and individuals have made similar commitments to fund employees’ Trump Accounts.
Erika Kirk, widow of conservative activist Charlie Kirk and CEO of Turning Point USA, announced on social media that the organization will match the government’s $1,000 contribution for every eligible employee’s newborn. Visa said cardholders can use rewards from everyday purchases to contribute, while Intel pledged to help employees’ children get a head start with its own contributions.
“By matching the federal government’s contribution, Intel is reinforcing our longstanding commitment to investing in our people and expanding the ways we support employees’ families as they prepare for the future,” the company said in a statement.
At a Treasury Department event, Trump encouraged U.S. employers to fund employees’ Trump Accounts, saying they will bring “hope and prosperity to every community.” The accounts are reportedly designed to help families save for college, homes, retirement, and other financial needs. Contributions can begin July 4, with families able to deposit up to $5,000 per child annually (excluding the government’s $1,000). Employers can contribute up to $2,500 per year on a tax-free basis, and funds generally cannot be withdrawn before the child turns 18.
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