President Donald Trump on Wednesday announced Trump Accounts, an investment program for children born in the United States between January 1, 2025 and December 31, 2028.
JPMorgan Chase announced Wednesday that it would match the government’s $1,000 contribution to proposed “Trump accounts” for the children of its U.S. employees.
The bank announced it would deposit an additional $1,000 into the Trump accounts of children born to eligible employees between January 1, 2025 and December 31, 2028.
The company stated that the Trump administration The program is designed to promote early saving and investing for children.
“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,” Jamie Dimon, chairman and CEO of JPMorgan Chase, said in a statement. “By making a matching contribution, we enable them to start saving early, invest wisely and plan for their family’s financial future.”
HOW TO KNOW IF YOUR CHILD QUALIFIES FOR A TRUMP ACCOUNT: “A FINANCIAL ISSUE FOR THE FUTURE”
JPMorgan Chase CEO Jamie Dimon announced that the bank would match the federal government’s $1,000 contribution to Trump accounts for the children of eligible employees. (Eva Marie Uzcategui/Bloomberg via Getty Images / Getty Images)
Trump accounts were included in the One Big Beautiful Bill Act last year as an initiative to provide newborns with a government-backed savings program and are scheduled to officially launch on July 4, 2026.
Under this program, accounts funded by $1,000 from the U.S. Treasury will be available to every U.S. child born between January 1, 2025 and December 31, 2028. Accounts can be opened by an authorized adult, including a parent, guardian, adult sibling, or grandparent, as long as the child has a valid Social Security number.
Without any additional contributions, the value of a child’s account is estimated to be about $5,800 at age 18 and about $200,000 at age 55.
With annual contributions of $5,000, the account could grow to nearly $304,000 by the time the child turns 18 and about $2.7 million by age 55.
BANK OF AMERICA TO MATCH $1,000 GOVERNMENT DEPOSITS FOR Trump ACCOUNTS
President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, DC, Wednesday, January 28, 2026. (Valérie Plesch/Bloomberg via Getty Images / Getty Images)
President Donald Trump celebrated the launch of Trump accounts on Wednesday, while urging employers across the country to help their workers’ children build savings.
“I am formally calling on all employers across America to follow the lead of many of these extraordinary companies and make matching contributions to the Trump account for the benefit of the American worker, and that will greatly benefit the American worker,” the president said at an event Wednesday.
Several large companies have already shown support for the initiative, including Bank of America, which plans to contribute $1,000 for the children of eligible employees among its approximately 165,000 employees in the United States.
Steak ‘n Shake, the Indianapolis-based fast food chain, announced its intention to contribute $1,000 to Trump accounts for his employees’ children.
Treasury Secretary Scott Bessent speaks at the Trump Accounts Launch Summit in Washington, DC, January 28. (Valérie Plesch/Bloomberg via Getty Images / Getty Images)
Turning Point USA and Turning Point Action, nonprofits founded by the late Charlie Kirk, will match the federal government’s $1,000 contribution to Trump accounts for newborns of eligible employees. CEO Erika Kirk said Wednesday that the groups will honor her late husband through a company-sponsored dollar-for-dollar match.
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Rachel Wolf, Louis Casiano and Alexandra Koch of Fox News Digital contributed to this report.
