Groom principals Katie Bjornstad Amin and Elizabeth Thomas Dold were quoted in Bloomberg Law’s “Trump Accounts Auto-Enroll Success Hinges on Parents’ Key Step,” discussing the Treasury Department’s new automatic enrollment process for Trump Accounts and the implementation challenges that may accompany the expansion.
The new process creates accounts for eligible children automatically, but parents or guardians must still take action to claim the accounts and access available federal seed funding. Amin and Dold noted that while the approach could significantly expand the number of Trump Accounts, effective procedures and education will be important to limit the number of unclaimed accounts. “This is a big lift but an important one to manage effectively,” they said, pointing to the need for processes around funding and claiming millions of accounts, along with meaningful safeguards against abuse.
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