Could Employer Matching on Trump Accounts Become the Next Fiduciary Recruiting Perk (And Liability)?
Of Counsel Michelle Capezza was quoted in an article by Fiduciary News about how employers are considering whether to provide matching contributions to a dependent's Trump Account, a traditional IRA for minors introduced by the One Big Beautiful Bill, without ERISA complications.
In the article, Michelle says, "More guidance is anticipated from the Department of Labor in order to clarify how these programs can be designed to avoid being an ERISA covered plan, and from Treasury and the IRS with respect to rules related to the coordination of TACPs and Section 125 cafeteria plan rules which would allow a TACP to be offered through a 125 plan and pre-tax employee salary deferrals to be made to the Trump Account of the employees’ dependent.”
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