Frank J. Bisignano, a native of Brooklyn's Old Mill Basin neighborhood and chief federal official overseeing Trump Accounts, announced a donation of $250 to every child aged 2 to 8 in his hometown zip code, 11234. The donations, made through the Bisignano Family Fund, will be invested in a fund tracking the performance of top U.S. companies and will grow tax-deferred throughout each child's lifetime. The zip code ranks in the top 1% of U.S. zip codes by population.
Bisignano serves as the 18th Commissioner of the Social Security Administration, chief executive of the Internal Revenue Service, and executive-in-charge of Trump Accounts.
Trump Accounts are investment accounts created by the Treasury Department for U.S. children with valid Social Security numbers. Nearly 70 million accounts have been created, with over 27 million currently holding contributions totaling nearly $9 billion from families, friends, donors, and the government.
Children born between January 1, 2025, and December 31, 2028, are eligible to receive a $1,000 seed contribution from the Treasury. Parents and legal guardians must activate the account to allow contributions from family, friends, and employers.