Goldman Sachs announced it will contribute $1,000 to "Trump Accounts" for eligible children of its U.S. employees, matching a federal seed contribution of the same amount tied to a new government investment program.

Trump Accounts are tax-deferred federal investment vehicles for children, set to launch on July 4. Children born between 2025 and 2028 are eligible to receive a one-time $1,000 federal seed contribution upon enrollment. Goldman Sachs said it will provide an additional $1,000 match for employees with qualifying children.

David Solomon, Chairman and CEO of Goldman Sachs, said in a statement: "Starting early and staying invested for the long term is one of the most reliable ways American families build lasting financial security."

According to the press release, the program follows discussions between elected officials and business leaders across industries. Goldman Sachs (NYSE: GS) is headquartered in New York and was founded in 1869.