A Stranger Put $250 in My Kid’s Account. Twice
The notification said someone had made a deposit into my son's account, but I didn't know the person.
A man named Frank Bisignano unknowingly put $250 into his child's account twice. Bisignano, who worked at large payments companies and now runs the IRS, had grown up in the same ZIP code as the reporter. Bisignano took money from his own family fund and gave it to every child in that ZIP code. This happened for the second time, as the reporter had previously received a similar deposit through Michael Dell's program.
The $250 accounts for children under 18 are called Trump Accounts. They are auto-enrolled and require a parent or guardian to claim and activate the account, as well as elect the $1,000 contribution for newborns. The money is invested in a diversified, low-cost index fund and can only be accessed when the child turns 18. The program aims to give every child a head start in life, regardless of their background.
Written by urgent.news from Newsweek's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
