Investing.com -- President Trump signed an executive order Thursday directing the Treasury Department to establish TrumpIRA.gov, a government website for Individual Retirement Accounts eligible for federal matching contributions. The program targets low-income workers, with limited potential benefits for fund companies, according to TD Cowen.

The Treasury Department has until January 1, 2027, to launch the website, which will allow individuals to review private-sector IRA options qualifying for government matching funds.

The matching program offers up to $1,000 per taxpayer, enacted under President Biden. The match phases out starting at $41,000 for joint filers and $20,500 for single filers who are not heads of households. Couples earning up to $71,000 may receive benefits, though most matching funds will go to lower-income workers.

The executive order imposes restrictions on participating IRAs. Net expense ratios, including operating costs, management fees and administrative expenses, are capped at 15 basis points. Accounts cannot require minimum contributions or minimum balance requirements.

TD Cowen analysts noted the program may have limited appeal for fund companies, as targeted low-income workers may not fully fund their accounts. Some participants could contribute less than $100 annually.

The executive order includes language suggesting the administration may pursue legislative changes to expand the program to additional workers, though TD Cowen views congressional action on expansion as unlikely this year.