“Half of all of working Americans still do not have access to a retirement plan with matching contributions from an employer. The White House official said that Trump’s proposal “can largely be implemented with existing administrative authorities.” Translation: without Congress. Federal workers currently have a 401(k)-style plan known as the Thrift Savings Plan, with a diverse mix of very low-cost funds. When he was a senator, Secretary of State Marco Rubio proposed a plan to grant non-federal workers access to the TSP. Auto enrollment, for policy experts, is a key feature needed to make meaningful progress in closing the gap in retirement savings for those least likely to amass them on their own.

Source: CNN February 26, 2026 02:38 UTC