Jamie Dimon, CEO of JPMorgan Chase & Co., speaks at the U.S. Chamber of Commerce in Washington, Jan. 15, 2026.
Luke Johnson | Bloomberg | fake images
JPMorgan Chase and bank of america said in separate statements Wednesday that the companies will match the U.S. government's one-time $1,000 contribution to children's retirement savings accounts for eligible employees, the latest corporations to announce such a move.
The so-called Trump accounts are part of a pilot program that deposits $1,000 from the US Treasury into tax-advantaged accounts for eligible children born in the US between January 1, 2025 and December 31, 2028.
The program, partly the brainchild of hedge fund manager Brad Gerstner, aims to help narrow the wealth gap in the United States by encouraging long-term savings and investing from birth. It has attracted commitment from a growing list of wealthy people, from billionaires like Michael and Susan Dell and Ray Dalio to rap artist Nicki Minaj.
“JPMorgan Chase 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,” CEO Jamie Dimon said in a statement. “By matching this contribution, we make it easier for you to start saving early, invest wisely, and plan for your family's financial future.”
In a memo sent to employees on Wednesday and first reported by Reuters, Bank of America said it applauded the government's “innovative solutions” to employee savings.
Financial companies dominate the list of companies that match contributions for new accounts. In addition to JPMorgan and Bank of America, the two largest US banks by assets, BlackRock, BNY, Robinhood, SoFi and Charles Schwab have made similar announcements.
