Trump just proposed a new retirement savings plan: What we know and what we don’t

President Donald Trump in his State of the Union address Tuesday briefly mentioned his intention to help private-sector workers save for retirement if they don’t have access to an employer-sponsored plan.

“Half of all of working Americans still do not have access to a retirement plan with matching contributions from an employer. To remedy this gross disparity, I’m announcing that next year, my administration will give these oft-forgotten American workers … access to the same type of retirement plan offered to every federal worker. We will match your contribution with up to $1,000 each year,” Trump said.

A White House official said in an email

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