PANews reported on June 26 that the U.S. has launched a tax-deferred retirement account for minor children called “Trump Account.” Military families can open an account for each child under 18 and invest for the long term. The Treasury will inject a one-time $1,000 in seed funding for newborns’ accounts for children born between 2025 and 2028. Parents, relatives, employers, and the children themselves can then contribute up to $5,000 per year thereafter, while employers can contribute an additional $2,500 per year for each employee’s child. Account funds are primarily invested in low-cost U.S. stock index funds. Upon turning 18, the account automatically converts to an individual retirement account. With long-term compounding, it can grow to hundreds of thousands or over a million dollars by age 55 for retirement security. Account registration opens on July 4.