HARRISBURG, PA — Pennsylvania Treasurer Stacy Garrity is urging families to take advantage of a new federal savings initiative that provides a $1,000 investment account for children born between 2025 and 2028, calling it a long-term investment in the nation’s future.
The accounts, formally titled 530A accounts and branded as Trump Accounts, were established under the One Big Beautiful Bill Act. The program includes a pilot phase that automatically provides a $1,000 contribution for eligible children born during the four-year window.
“The money available through the Trump Account program is a real investment in the future leaders of our country,” Garrity said. “I encourage eligible families across Pennsylvania to take advantage of the $1,000 and to learn more about the program as it rolls out.”
Trump Accounts are tax-deferred investment accounts that allow individuals and employers to contribute up to $5,000 per year. While the $1,000 federal deposit applies only to children born in 2025 or later, families with children under 18 can still open and fund accounts on their own.
Families can elect to enroll an eligible dependent when filing their 2025 federal tax return by submitting IRS Form 4547. The form may also be filed separately from a tax return. According to TrumpAccounts.gov, an online enrollment portal is expected to launch later this summer.
The program is also drawing major private-sector support. Susan and Michael Dell have committed $6.25 billion to provide an additional $250 contribution to the first 25 million accounts opened for children under age 10 who live in ZIP codes with a median household income below $150,000. Additional charitable or government contributions do not count toward the annual contribution limit.
Funds in Trump Accounts cannot be withdrawn before the beneficiary turns 18 and may be used for education expenses, a home purchase, or investment in a small business. For beneficiaries with a qualifying disability, assets may be transferred to an ABLE account during the calendar year of their 17th birthday.
Garrity said the new accounts complement existing Pennsylvania savings initiatives already administered by the Treasury Department.
“Trump Accounts are another tool that families can use in conjunction with Treasury’s Keystone Scholars and PA 529 College and Career Savings Program to help them meet their family’s financial goals,” she said.
Under the Keystone Scholars program, Pennsylvania children born in 2019 and later, or subsequently adopted by a Pennsylvania family, receive a $100 scholarship funded through private and philanthropic contributions. The scholarship is invested by the Treasury Department and can be used for post-high school education expenses between ages 18 and 29. The program does not use taxpayer dollars.
“It’s exciting to see the Federal government implement a program much like our successful Keystone Scholars,” Garrity said. “I encourage families to claim their Keystone Scholars scholarship and learn about saving with PA 529 and of course make sure they elect to receive contributions for their children that are offered by any government or philanthropic organizations.”
PA 529 accounts allow families to save for a wide range of education-related costs, including college, technical schools, K–12 education, apprenticeships, and credential programs. Pennsylvania families can deduct up to $19,000 per year, or $38,000 for married couples filing jointly, in PA 529 contributions from their state income taxes. The accounts grow tax free, are exempt from state inheritance tax, and do not affect eligibility for state financial aid.
Treasury officials point to research showing that children with even modest savings are significantly more likely to pursue and complete education after high school, adding that programs like Trump Accounts and Keystone Scholars are designed to support both financial stability and long-term opportunity.
More information on Keystone Scholars and PA 529 is available at https://pa529.com/keystone.
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