Trump Accounts May Jeopardize Future Disability Benefits for Some Participants
The Trump Accounts program, designed to help children build wealth, could inadvertently threaten future disability benefits for some participants. The program allows families to open accounts for children, with a $1,000 federal contribution for those born between 2025 and 2028. However, the Center for Budget and Policy Priorities warns that if these accounts exceed the $2,000 asset limit set by Supplemental Security Income (SSI) rules, participants may lose access to SSI payments and Medicaid-linked services upon reaching adulthood. The SSI Savings Penalty Elimination Act, introduced by Senator Catherine Cortez Masto, aims to address this by raising the asset limit to $10,000.