By Mike Rogoway
oregonlive.com
(TNS)
Intel says it will put $1,000 in employees’ government-backed savings accounts for newborn children, matching the federal contribution to the so-called Trump Accounts.
Congress established the new savings accounts last summer, which are modeled on conventional IRAs (individual retirement accounts). Parents, friends, families or employers can contribute—and the government is kicking in $1,000 for children born from 2025 through 2028.
Intel, Oregon’s largest corporate employer, is among several companies that have pledged to match the government contribution. Others include the financial firms SoFi, Robinhood, Charles Schwab and Chime Financial. But no other major Oregon employer has announced made a similar pledge.
“By matching the federal government’s contribution, Intel is reinforcing our longstanding commitment to investing in our people and expanding the ways we support employees’ families as they prepare for the future,” said Intel CEO Lip-Bu Tan.
Recommended Articles
President Donald Trump negotiated an $8.9 billion government investment in Intel last summer, helping to stabilize the faltering chipmaker’s balance sheet. Intel’s sales last year hit their lowest point since 2013 as rivals took technological leadership and market share.
Intel has reacted to its declining fortunes by eliminating 30,000 jobs across the company in the past 18 months, including more than 6,000 Oregon jobs. It still has approximately 16,000 working in Washington County, Intel’s largest site.
The company has also cut several employee benefits, reducing retirement contributions, placing limits on its employee stock purchase program and scaling back its sabbatical program.
Intel said its “undesired turnover rate”—the share of employees who left Intel without being fired, laid off or bought out—was 7.9% last year. That’s up from 5.9% in 2024 and 5.6% in 2023.
Photo credit: Intel
_______
©2026 Advance Local Media LLC. Visit oregonlive.com. Distributed by Tribune Content Agency LLC.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
