JPMorgan Chase to match $1,000 contribution to ‘Trump accounts’
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks at the U.S. Chamber of Commerce in Washington on January 15, 2026.
Luke Johnson | Bloomberg | Getty Images
JPMorgan Chase And Bank of America In separate statements Wednesday, the companies said they would match the U.S. government’s one-time contribution of $1,000 to child retirement savings accounts for eligible employees, the latest companies to announce such a measure.
The accounts, called Trump accounts, are part of a pilot program that deposits $1,000 from the U.S. Treasury into tax-advantaged accounts for eligible children born in the United States between January 1, 2025 and December 31, 2028.
The program is partially brilliant idea Hedge fund manager Brad Gerstner aims to help narrow the wealth gap in the US by encouraging long-term savings and investments from birth. It has received commitments from a growing list of wealthy individuals, from billionaires like Michael and Susan Dell and Ray Dalio to rap artist Nicki Minaj.
“JPMorgan Chase has a long-term commitment to the financial health and well-being of all our employees and their families worldwide, including more than 190,000 in the United States,” CEO Jamie Dimon said in a statement. “By matching this contribution, we make it easier for them to start saving early, invest wisely, and plan for their family’s financial future.”
In a memo to employees on Wednesday first seen by Reuters, Bank of America said it appreciated the government’s “innovative solutions” for employee savings.
Financial firms top 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, also made similar statements.
