US Treasury sets rules for child savings accounts backed by $6.25B Dell pledge

The US Treasury has released new guidance simplifying how employers can contribute to child savings accounts, known as Trump Accounts. Under the updated rules, employers may contribute up to $2,500 per year for employee dependents on a tax-free basis, while employees can also make pre-tax contributions directly. The move comes months after the Michael and Susan Dell Foundation committed $6.25 billion to support the initiative. More than fifty companies have already signed on to participate in the program.