President Donald Trump announced a $1,000 per year 401(k) matching plan for private sector workers.

"Half of all of working Americans still do not have access to a retirement plan with matching contributions from an employer," he said during the State of the Union Address. "To remedy this gross disparity, I'm announcing that next year, my administration will give these oft forgotten American workers, great people, the people that built our country, access to the same type of retirement plan offered to every federal worker."

"We will match your contribution with up to $1,000 each year as we ensure that all Americans can profit from a rising stock market," Trump said.

The president remained vague on the logistics and timetable for the plan's implementation.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.