BlackRock Backs Trump-Backed Savings Plan with $1,000 Matching for Children
BlackRock has announced it will match $1,000 per child under a new savings plan tied to the federal One Big Beautiful Bill Act. The initiative, dubbed "Trump accounts," will provide seed funding for children nationwide, with BlackRock extending the benefit to its entire workforce. The MOVE aims to foster early financial habits and long-term planning.
The federal program, set to launch on July 4, 2026, allows parents to contribute up to $5,000 annually per child. Employers can add $2,500 tax-free, while the government match remains fixed at $1,000. The program targets children born between 2025 and 2028, potentially bringing millions of families into the system.
Corporate support for the initiative is growing. Bank of New York Mellon recently pledged to match the federal $1,000 for newborns of its U.S. employees. Treasury Secretary Scott Bessent revealed that Bridgewater Associates founder RAY Dalio will support the accounts in Connecticut, part of a broader effort to secure donors in every state. Twenty states are reportedly considering adding public funds to the federally seeded accounts.
The program has already attracted significant private backing, including a high-profile $250-per-child commitment from Michael Dell and Susan Dell, covering 25 million American children.
