Turning Point USA will match the federal government's new "Trump Account" deposits for employees' children, adding the conservative youth group to a growing list of employers boosting the tax-advantaged savings program.
Kirk Ties Matching Program To Family Legacy
Erika Kirk, CEO of Turning Point USA and widow of the group's late co-founder, Charlie Kirk, announced the move on Wednesday on X. She wrote that her husband "spoke so often about the importance of young families and having children, and his face would light up every time he learned about a Turning Point employee welcoming a newborn into their family."
Charlie spoke so often about the importance of young families and having children, and his face would light up every time he learned about a Turning Point employee welcoming a newborn into their family.
In that spirit, @TPUSA and @TPAction_ are honored to continue Charlie's…
"In that spirit, @TPUSA and @TPAction_ are honored to continue Charlie's support of families through a company-sponsored dollar-for-dollar match of the federal government's $1,000 contribution to the 503A ‘Trump Account' established for every eligible employee's newborn baby," she added, referring to Section 530A child investment accounts created under federal law. "We're proud to stand with @POTUS in supporting families and investing in the future of America."
Trump Accounts Offer Long-Term Investment For Children
Trump Accounts, also known as Section 530A accounts, were authorized in last year's One Big Beautiful Bill Act and function as long-term investment vehicles for children under 18. The Treasury Department will deposit $1,000 into an account for every eligible US-born child with a Social Security number between Jan. 1, 2025, and Dec. 31, 2028, according to IRS guidance.
According to the IRS, parents or guardians can elect to open the accounts starting with this tax season using IRS Form 4547. Investments must be placed in mutual funds or exchange-traded funds tracking the S&P 500 or similar US stock indexes, and the money is generally locked until the child turns 18.
Major Corporations Join Federal Matching Initiative
Beginning July 5, families, friends and other adults can contribute up to a combined $5,000 per year per child, with employers allowed to put in as much as $2,500 annually that counts toward that cap. Charities and state governments can contribute without limit, and the annual ceiling will be indexed to inflation starting in 2028.
Multiple large companies, including BlackRock Inc.(NYSE:BLK), Charles Schwab Corp.(NYSE:SCHW), SoFi Technologies Inc.(NASDAQ:SOFI), JPMorgan Chase & Co.(NYSE:JPM) and Bank of America Corp.(NYSE:BAC), have said they will match the $1,000 federal seed deposit for employees' children, part of a broader corporate push encouraged by the White House.
Join thousands of traders who make more informed decisions with our premium features.
Real-time quotes, advanced visualizations, backtesting, and much more.
