Turning Point USA CEO Erika Kirk said her organization will match the federal government’s $1,000 deposits in new “Trump Accounts” for the children of its employees.
Kirk wrote Wednesday on social platform X that her husband, the late conservative activist and Turning Point co-founder Charlie Kirk, “spoke so often about the importance of young families and having children, and his face would light up every time he learned about a Turning Point employee welcoming a newborn into their family.”
“In that spirit, @TPUSA [Turning Point USA] and @TPAction_ [Turning Point Action] are honored to continue Charlie’s support of families through a company-sponsored dollar-for-dollar match of the federal government’s $1,000 contribution to the 503A ‘Trump Account’ established for every eligible employee’s newborn baby,” Erika Kirk added, referring to the Section 530A accounts.
“We’re proud to stand with @POTUS in supporting families and investing in the future of America,” she concluded.
The Treasury Department will contribute $1,000 to each account for children born between Jan. 1, 2025, and Dec. 31, 2028. Accounts are also available for children who do not turn 18 before the end of the calendar year in which their parents open an account, according to the IRS.
Multiple corporations, including BlackRock, Charles Schwab and SoFi, have also said they will match that $1,000 contribution to the children of their employees.
Parents can open a tax-free account for their child as of the start of tax season Monday via elections on IRS Form 4547. The accounts were established by the One Big Beautiful Bill Act President Trump signed into law last July.
Beginning on July 5, people — including family members, friends and other adults — can contribute up to a combined $5,000 annually to an account, a limit that will increase with inflation starting in 2028. Employers of the child or their parent can contribute up to $2,500 per year, which counts against the $5,000 limit.
Charitable organizations and state governments can also make contributions, which do not count against the annual limit.
The funds in the account must be invested in certain mutual funds or exchange-traded funds that track the S&P 500 or “another index of primarily American equities,” the IRS says. The account can be accessed on Jan. 1 of the year in which the child turns 18.
At a Treasury Department summit earlier Wednesday, Trump said the accounts will help children “get a real start in life.”
“Decades from now, I believe the Trump Accounts will be remembered as one of the most transformative policy innovations of all time,” the president predicted.
