Several companies have announced plans to contribute $1,000 to eligible employees’ Trump accounts. Brendan Smialowski / AFP via Getty Images
More and more American companies are planning to invest in Trump Accounts.
The accounts, set to launch in July, are a new investment account intended to help children grow wealth and to make capitalism more accessible. If your baby is born between 2025 and 2028 and is an American citizen, the government will deposit $1,000 into the account.
In addition, the Trump administration has encouraged private companies to get involved and match the government’s $1,000 contribution for their employees. Beginning in December and continuing through February, many companies — particularly banks and financial institutions — have announced they’ll do just that.
Under the law, companies can contribute up to $2,500 per year to employees’ Trump Accounts.
Here are some of the major companies that have announced they’ll contribute to their employees’ children’s Trump Accounts.
BNY
Bank of New York Mellon is an international financial services company. Illustration by Cheng Xin/Getty Images
Bank of New York Mellon, also known as BNY, announced in December that it would contribute $1,000 to employees’ Trump Accounts.
“For more than two centuries, BNY has supported our nation’s financial ecosystem and the people who power it, including our own employees. This initiative advances that mission in a meaningful way,” CEO Robin Vince said in a statement at the time. “By matching the government’s contribution, we’re helping our employees give their children a head start toward a stronger financial future.”
Charles Schwab
Illustration by Cheng Xin/Getty Images
The Charles Schwab Corporation announced in December that it would contribute $1,000 to eligible employees’ Trump Accounts.
“For more than half a century, Schwab has stood for increasing access, lowering costs, and empowering millions of families to achieve their financial dreams and goals,” CEO Rick Wurster said. “By matching the government’s contribution for our employees’ children, we’re honoring that commitment.”
Chipotle
Chipotle is among the non-financial companies that have also committed to contributing $1,000 to eligible employees’ Trump Accounts, joining the growing list of major U.S. employers participating in the program.
