Goldman Sachs to Match $1,000 Federal Seed for Employees' Children in Trump Accounts

Goldman Sachs said it will provide a one-time $1,000 matching contribution for employees whose children, born between 2025 and 2028, enroll in the Trump Accounts program. The contribution mirrors the $1,000 federal seed money offered to eligible children under the initiative.

The bank described the public-private partnership as a way to teach basic economic principles of saving and investing to the next generation. It noted that several other financial institutions, including Citi, JPMorgan Chase, Bank of America and Vanguard, have made similar commitments.

"Starting early and staying invested for the long term is one of the most reliable ways American families build lasting financial security," said Goldman Sachs CEO David Solomon.

"We have long been committed to the importance of savings and investment as a pathway to a more resilient financial future, and we're proud to continue our support of this partnership and invest in the future of America," Solomon added.

The Trump Accounts program, created by legislation passed in 2023, allows parents to contribute up to $5,000 per year to a child's account, while an employer may contribute up to $2,500 annually without affecting the employee’s taxable income. The funds are invested in low-cost index funds that provide diversified exposure to the U.S. stock market.