Two of the country’s largest financial institutions are putting money behind a new savings initiative tied to Trump accounts for their workers’ children.
Morgan Stanley and Goldman Sachs each announced Thursday that they will match $1,000 contributions made to Trump accounts opened on behalf of qualifying employees’ children. The program is scheduled to begin on July 4.
Children who were born in the United States between January 1, 2025, and December 31, 2028, will be eligible under the program’s terms.
In an internal memo, Morgan Stanley described the contribution as something that “reflects our belief in the power of long-term saving and financial education.”
Goldman Sachs made a similar announcement for its workforce the same day. CEO David Solomon issued a statement saying, “Starting early and staying invested for the long term is one of the most reliable ways American families build lasting financial security.”
