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American Airlines has joined the growing list of employers pledging to match contributions to Trump Accounts for their employees, the company said Monday in an announcement exclusively provided to CNBC. The airline said it will match the federal $1,000 contribution with an additional one-time $1,000 contribution for their own employees' children. About 1.4 million children who have been signed up for Trump Accounts qualify to receive the $1,000 seed money from Treasury, according to the latest published data. Thousands of children of American Airlines workers could also be eligible for the employer match, according to the carrier. "At American Airlines, our purpose is to care for people on life's journey, and that includes helping our team members build a strong financial future for themselves and their families," CEO Robert Isom said in a written statement provided to CNBC. More than 50 companies have already committed to contributing to Trump Accounts for their workers in some capacity, according to the U.S. Treasury Department. In addition to American Airlines, companies such as Goldman Sachs and Morgan Stanley have also offered to fully match the government's $1,000 seed contribution. "It is encouraging to see our nation's leading companies, including American Airlines, supporting this effort by offering matching contributions for their employees," Treasury Secretary Scott Bessent said in a written statement provided to CNBC. Who is eligible for a Trump Account match? Trump Accounts, also known as 530A accounts, are available for U.S. children under age 18. Parents or guardians of babies born between 2025 and 2028 who open an account, which is tax-deferred, will receive the $1,000 initial deposit from the Treasury. Once an account is established, parents, guardians, grandparents and others can also contribute up to $5,000 per year until the year before the beneficiary turns 18. The Treasury Department previously proposed regulations that would allow employees to fund their dependent children's accounts with pretax dollars straight from their paychecks. American Airlines plans to offer that paycheck deduction next year once the rules become final. As part of the airline's program, eligible employees will be able to contribute up to $2,500 of pretax earnings annually to a Trump Account starting in 2027, according to the company. "We appreciate the Trump Administration and Congress for creating Trump Accounts and providing eligible children born between 2025 and 2028 with a $1,000 federal contribution," Isom said. "We're proud to build on that investment by matching the federal contribution for eligible children of our team members and offering other eligible team members the opportunity to make pretax contributions to their children's accounts." Roughly one-third of the company's nearly 140,000 global employees will have the pretax contribution option, according to the carrier. While Trump Accounts are just one of several tax-advantaged savings vehicles for children, financial experts generally recommend enrolling if it means receiving free money from the government or your employer.
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