Treasury auto-enrolls millions of children in Trump Accounts
Summarised from 3 outlets · 4 reports · Updated 2 Oct, 12:20 · Archive
The US Treasury has automatically enrolled up to 60 million children in Trump Accounts, with auto-enrollment beginning October 1.
The US Treasury Department has announced automatic enrollment of eligible children in Trump Accounts, with the programme starting on October 1. The move could add up to 60 million accounts, according to the Treasury.
Children enrolled in Trump Accounts cannot access them until they reach 18 years of age. The accounts are restricted to specific uses, including paying for a home or education.
Under the auto-enrollment system, parents no longer need to manually sign up for a Trump Account to obtain one for their child. The Treasury Department provided details of the programme exclusively to CNBC.
How it is being reported
- Trump Accounts have auto-enrolled more than 60 million children, Treasury saysMore than 60 million children have been automatically enrolled in Trump Accounts, according to a Treasury Department announcement exclusively provided to CNBC.CNBC · 1 Oct, 15:39
- Treasury to auto-enroll up to 60 million children in Trump AccountsParents will no longer have to sign up for a Trump Account to get one for their child, with auto-enrollment beginning Oct. 1.CBS News · 30 Sept, 13:02
- 60 million kids to be auto-enrolled in Trump AccountsChildren cannot access the Trump Account until they are 18, and it can only be used for specific things like paying for a home or educationIndependent World · 29 Sept, 21:58
- Trump Accounts will auto-enroll children, potentially adding 60 million accounts: TreasuryThe Treasury Department announced that Trump Accounts will begin auto enrolling eligible children. Here's what families need to know.CNBC · 29 Sept, 19:01
In this story: US Treasury Department · Trump Accounts
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