Government matching funds could bridge the $39,000 retirement gap for workers without 401(k)s

Low-income Americans without employer-sponsored retirement plans could receive up to $1,000 in annual matching funds to begin building savings. This proposal by Donald Trump aims to provide workers lacking 401(k)s access to a retirement plan similar to those offered to federal workers. The government would match contributions to ensure workers can profit from the stock market. The disparity is documented by the National Institute on Retirement Security, which found that workers with employer-sponsored accounts have a median balance of $40,000, while the median balance for all workers, including those with no savings, drops to $955.