economy

January 28, 2026

JPMorgan Chase and Bank of America to match $1,000 U.S. contributions to employee 'Trump accounts'

Financial firms dominate the list of companies that are matching contributions for the

JPMorgan Chase and Bank of America to match $1,000 U.S. contributions to employee 'Trump accounts'

TL;DR

  • JPMorgan Chase and Bank of America will match the U.S. government's one-time $1,000 contribution to children's retirement savings accounts for eligible employees.
  • This initiative is part of a pilot program called 'Trump accounts,' which deposits $1,000 from the U.S. Treasury into tax-advantaged accounts for eligible children born between January 1, 2025, and December 31, 2028.
  • The program, conceived partly by hedge fund manager Brad Gerstner, aims to reduce the U.S. wealth gap by promoting early saving and investing.
  • Several wealthy individuals and numerous financial firms, including BlackRock, BNY, Robinhood, SoFi, and Charles Schwab, have also committed to matching contributions.
  • JPMorgan Chase CEO Jamie Dimon stated the company's commitment to employee financial well-being and easing early saving and planning.
  • Bank of America expressed support for the government's 'innovative solutions' for employee savings.

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