President Donald Trump on Wednesday announced Trump Accounts, an investment program for children born in the US between January 1, 2025 and December 31, 2028.
JPMorgan Chase announced Wednesday that it will double the government’s $1,000 contribution to the proposed “Trump Accounts” for the children of its American employees.
The bank said it will 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 said the Trump administration’s 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 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 matching this contribution, we are making it easier for them to start saving early, invest wisely and plan for their family’s financial future.”
HOW TO KNOW IF YOUR CHILD ELIGIBLE FOR A TRUMP ACCOUNT: ‘A FINANCIAL STAKE IN THE FUTURE’
JPMorgan Chase CEO Jamie Dimon announced that the bank will match the federal government’s $1,000 Trump Accounts contribution 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 expected to officially launch on July 4, 2026.
Under the program, accounts funded with $1,000 from the U.S. Department of the Treasury will be available to any U.S. child born between January 1, 2025 and December 31, 2028. The accounts can be established by a qualified adult, including a parent, guardian, adult sibling or grandparent, provided the child has a valid Social Security number.
Without additional contributions, a child’s bill is estimated at about $5,800 at age 18 and about $200,000 at age 55.
With an annual contribution of $5,000, the bill could grow to nearly $304,000 by the time the child turns 18 and about $2.7 million by age 55.
BANK OF AMERICA TAKES $1,000 GOVERNMENT DEPOSITS FOR TRUMP ACCOUNTS
President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, DC, on Wednesday, January 28, 2026. (Valerie Plesch/Bloomberg via Getty Images/Getty Images)
President Donald Trump celebrated the launch of the Trump Accounts on Wednesday as he urged employers across the country to help their employees’ children build savings.
“I officially call on all employers across America to follow the example of many of these great companies and make matching Trump Account contributions for the benefit of the American worker, and they will greatly benefit the American worker,” the president said at an event on Wednesday.
Several major companies have already expressed support for the initiative, including Bank of America, which plans to contribute $1,000 for eligible children of its approximately 165,000 U.S. workers.
Steak ‘n Shake, the Indianapolis-based fast food chain, also announced plans to contribute $1,000 to Trump Accounts for the children of its employees.
Treasury Secretary Scott Bessent speaks at the Trump Accounts Launch Summit in Washington, DC, on January 28. (Valerie 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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