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

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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.

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