JPMorganChase is the latest in a growing list of organizations who are pledging contributions to Trump Accounts, a tax-advantaged retirement savings program aimed for children.
The mega-investment firm announced it would match the U.S. Treasury’s $1,000 contribution to children of eligible U.S. employees.
Trump Accounts, which are part of the Trump Administration’s “One Big Beautiful Bill” package, allows the Department of Treasury to contribute $1,000 into accounts for chilren born between Jan. 1, 2025, and Dec. 31, 2028.
The accounts will track a stock index and allow for additional private contributions of up to $5,000 per year.
“JPMorganChase has demonstrated a long-term commitment to the financial health and well-being of all of our employees and their families around the world, including more than 190,000 here in the United States,” said Jamie Dimon, chairman and chief executive officer of JPMorganChase, in a statement. “By matching this contribution, we’re making it easier for them to start saving early, invest wisely, and plan for their family’s financial future.”
JPMorganChase is one of several firms and associations in recent weeks who have committed to matching contributions to Trump Accounts. Russell Investments, the Investment Company Institue (ICI), and the Dell Foundation have each announced separate matching contributions, along with hedge fund manager and billionaire Ray Dalio.
In a statement, Russell Investments said it would contribute to accounts after the bill expires at the end of 2028.
More organizations could announce separate contributions in the coming months, as government officials and philanthropists urge charities and organizations to pledge donations. In a press announcement in December, Treasury Secretary Scott Bessent called for a “50 state challenge,” where he encouraged philanthropists from each U.S. state to participate in the program.
Michael Dell of Dell Technologies, along with Dalio, have also issued statements urging philanthropists to add their own contributions to the program.