{"id":501387,"date":"2026-02-24T17:33:07","date_gmt":"2026-02-24T17:33:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/501387\/"},"modified":"2026-02-24T17:33:07","modified_gmt":"2026-02-24T17:33:07","slug":"trump-administration-weighs-new-retirement-savings-plan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/501387\/","title":{"rendered":"Trump administration weighs new retirement savings plan"},"content":{"rendered":"<p>National Economic Council Director Kevin Hassett has <a href=\"https:\/\/eig.org\/inclusive-wealth-building-initiative\/\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">long advocated for a similar concept<\/a>. During the Biden administration, he pressed lawmakers to advance legislation that would recreate the government\u2019s Thrift Savings Plan for private-sector workers without employer-provided retirement plans.<\/p>\n<p>Sens. John Hickenlooper, D-Colo., and Thom Tillis, R-N.C., plus Reps. Lloyd Smucker, R-Pa., and Terri Sewell, D-Ala., <a href=\"https:\/\/www.hickenlooper.senate.gov\/press_releases\/hickenlooper-tillis-smucker-sewell-reintroduce-bipartisan-bill-to-help-americans-save-for-retirement\/\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">reintroduced that proposal last year.<\/a><\/p>\n<p>\u201cGovernment should make the proven TSP model available to a wide range of working Americans, especially those below a certain income level,\u201d Hassett wrote alongside economist Teresa Ghilarducci in <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/03\/29\/everyone-should-have-retirement-plan-federal-employees-enjoy\/\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">a 2021 editorial in The Washington Post<\/a>.<\/p>\n<p>Alex von F\u00fcrstenberg, the son of fashion designer Diane von F\u00fcrstenberg, said last year he was pitching the Trump administration on the same idea as <a href=\"https:\/\/www.afr.com\/world\/north-america\/packer-teams-up-with-us-fashion-television-royalty-for-super-doco-20250220-p5ldmr\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">\u201cbasically [a] philanthropy project\u201d<\/a> (and filming a documentary about the efforts, slated for release this year).<\/p>\n<p>Lobbying disclosures reveal he\u2019s recently tapped firms like <a href=\"https:\/\/lda.senate.gov\/filings\/public\/filing\/83e6a645-ea33-481e-b84f-0ad5b0ce8204\/print\/\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">Miller Strategies<\/a> and <a href=\"https:\/\/lda.senate.gov\/filings\/public\/filing\/9ee3fd89-af7e-409f-9a96-da22ba99c304\/print\/\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">Brownstein Hyatt Farber Schreck<\/a> to work on retirement-related issues.<\/p>\n<p>Trump <a href=\"https:\/\/www.cnn.com\/2025\/12\/03\/economy\/superannuation-australia-retirement-trump\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">praised Australia\u2019s retirement savings plan<\/a>, known as superannuation, at <a href=\"https:\/\/www.cnbc.com\/2025\/12\/19\/trump-accounts-australia-superannuation-social-security.html\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">a press conference on Trump Accounts<\/a> in December. Treasury Secretary Scott Bessent also <a href=\"https:\/\/smcaustralia.com\/media\/key-us-official-endorses-australias-super-systems-dependability-and-sustainability\/\" class=\"_linkEmbed_10lxo_29\" rel=\"noopener nofollow\" target=\"_blank\">made positive comments about it<\/a> last year.<\/p>\n","protected":false},"excerpt":{"rendered":"National Economic Council Director Kevin Hassett has long advocated for a similar concept. During the Biden administration, he&hellip;\n","protected":false},"author":2,"featured_media":501388,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,184,185],"class_list":{"0":"post-501387","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/501387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=501387"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/501387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/501388"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=501387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=501387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=501387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}