Schwab to Match Treasury’s Trump Account Contribution for Its Employees
The Charles Schwab Corporation today announced it will match the U.S. government’s one-time $1,000 contribution to Trump Accounts for eligible newborn children of Schwab’s U.S. employees, providing an additional $1,000 per eligible child.
“We will continue to work with this administration, future administrations, and Congress to do all we can to support getting more Americans invested.”
Schwab CEO Rick Wurster
“For more than half a century, Schwab has stood for increasing access, lowering costs, and empowering millions of families to achieve their financial dreams and goals,” said Rick Wurster, CEO of Charles Schwab. “By matching the government’s contribution for our employees’ children, we’re honoring that commitment—helping more families take an early, confident step toward building long-term financial security. We will continue to work with this administration, future administrations, and Congress to do all we can to support getting more Americans invested.”
The recently enacted Invest in America Act, part of the “One Big Beautiful Bill” signed into law by President Trump in July 2025, established tax-advantaged investment accounts renamed “Trump Accounts” designed to help build the long-term financial security for millions of children by encouraging saving and investing from day one.
All U.S. children under 18 are eligible to have an account opened by a parent or guardian, with sign-ups expected to begin in July 2026. A pilot program provides a one-time $1,000 federal government contribution for children born between January 1, 2025, and December 31, 2028.
In a press release today, Schwab said its contribution reflects its longstanding mission to champion clients’ financial goals with integrity and to promote financial literacy and participation in the markets. A key element of getting invested at a young age is increasing financial literacy and providing greater access to educational resources on the fundamentals of saving and investing. Through programs like Moneywise America and partnerships with schools and nonprofits, Schwab said it is committed to providing trusted financial education to empower the next generation to achieve their financial goals.
Schwab has approximately 32,000 employees, and the Westlake, Texas-based financial services provider has 38.3 million active brokerage accounts, 5.7 million workplace plan participant accounts, 2.2 million banking accounts, and $11.83 trillion in client assets.
Earlier this month, the Dell Foundation made headlines for its $6.25 billion pledge to 25 million children under 10 years old throughout the U.S. These children would live in ZIP codes with a median household income of $150,000 or less and would not receive contributions from the Treasury department as part of the Trump Accounts program. Children over the age of 10 could also qualify if “leftover funds” remain from the donation.
For more information on Trump Accounts, visit TrumpAccounts.gov.
SEE ALSO:
• Trump Accounts Website Goes Live as Ray Dalio Pledges Contribution
• Dell Foundation Donates $6.25B to ‘Trump Accounts’
• Treasury, IRS Release Guidance on ‘Trump Accounts’
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.