President Trump announced October 1 that 60 million children had been automatically enrolled in Trump Accounts, adding to about 10 million parent-created accounts since the July 4 launch, for a total of 70 million enrollees, covering every US child under 18 with a Social Security number, Time reports. More than $4.5 billion has been deposited, including $1.3 billion in federal seed money, $2.6 billion in philanthropic contributions, and over $600 million from family and friends. Children born 2025-2028 receive a one-time $1,000 federal seed deposit, and about 25 million children born 2016-2024 in lower-income zip codes receive $250 Dell-funded deposits; voluntary contributions of up to $5,000 per year are allowed, funds track the S&P 500, and accounts convert to traditional IRAs at age 18. Parents must claim the accounts through the TrumpAccounts.gov app.
60 million children auto-enrolled in Trump Accounts, White House says
President Trump auto-enrolled 60 million children into Trump Accounts, bringing total enrollment to 70 million, or every US child under 18 with a Social Security number.
Why it matters: With over $4.5 billion already deposited and funds tracking the S&P 500 until age 18, the program is now a vast federally seeded savings vehicle whose design, and its tilt toward children with existing family resources, will draw policy scrutiny.
Data as of Time article October 8, 2026. time.com is blocked for direct fetch; facts established via a live-browser read of the full article. Single-sourced; figures are administration claims not yet independently verified.
Sources
- 60 Million Kids Auto-Enrolled in Trump Accounts: What Parents Should Know · Time · 2026-10-08