American Airlines, Dell expand Trump Account contributions

American Airlines Group Inc. (NASDAQ: AAL ) is adding a one-time $1,000 contribution to eligible employees’ children’s Trump Accounts, while a separate Dell-backed program begins distributing $250 grants.

American Airlines announced a one-time $1,000 contribution for eligible employees’ children, matching the federal government’s $1,000 Trump Account seed contribution.

The company said thousands of children of its workers could qualify for the match. by CNBC.

American Airlines Expands Employee Benefits The airline also plans to allow eligible employees to contribute up to $2,500 of pretax earnings annually to Trump Accounts starting in 2027.

Roughly one-third of American Airlines’ nearly 140,000 global employees will have access to the pretax contribution option, the report added.

American Airlines plans to offer the paycheck deduction once Treasury’s proposed rules become final.

More than 50 companies have committed to contributing to Trump Accounts for their workers, with companies including Goldman Sachs (NYSE: GS ) and Morgan Stanley (NYSE: MS ) offering to fully match the government’s $1,000 contribution.

Dell Begins $250 Trump Account Grants The $250 Dell contribution was announced previously, but the new development is that the funds are now beginning to move into eligible children’s Trump Accounts.

The Dell Foundation said the grants would be automatically deposited starting Monday, Aug.

31, with a foundation spokesperson providing the update to CNBC.

Michael Dell, founder and CEO of Dell Technologies Inc. (NYSE: DELL ), said the first funds were already moving to activated accounts for children in Texas, with children across the country expected to follow.

He made the remarks Monday at an event in Austin with Sen.

Ted Cruz (R-Texas). "I’m very proud to say that, as of this morning, the first funds are already moving to activated accounts for children here in the great state of Texas, with children across the country to follow soon," Dell said.

Dell and his wife, Susan Dell, committed $6.25 billion to provide $250 contributions to eligible children born between 2016 and 2024 who live in ZIP codes where the median income is $150,000 or less.

The commitment could fund investment accounts for as many as 25 million American children.

Read Also: How To Open a Trump Account? Everything Parents Need to Know About Eligibility and the $1,000 Treasury Contribution How Trump Accounts Work Trump Accounts, also known as 530A accounts, officially launched nationwide on July 4.

Eligible children born between 2025 and 2028 can receive a one-time $1,000 contribution from the U.S.

Treasury, while families, employers and other contributors can add up to $5,000 annually.

The Dell contribution extends support to children born between 2016 and 2024 who do not qualify for the federal seed money.

Private Support Continues To Grow Private-sector support for the program has expanded beyond the Dell commitment.

Brad Gerstner, founder and CEO of Altimeter Capital, previously said Trump Accounts could attract more than $100 billion in additional private commitments over the following 12 months.

Companies including Micron Technology Inc (NASDAQ: MU ), Dell Technologies, SoFi Technologies, Inc. ( NASDAQ: SOFI ), JPMorgan Chase & Co. (NYSE: JPM ), Visa Inc. (NYSE: V ), Comcast Corp. (NASDAQ: CMCSA ) and BlackRock Inc. (NYSE: BLK ) have announced contributions or matching programs.

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