Bisignano says $250 is being added to Brooklyn children’s Trump Accounts

Donation announced for Brooklyn children

FINCHANNEL reports that Frank J. Bisignano, who grew up in Brooklyn’s Old Mill Basin neighborhood, said The Bisignano Family Fund is making donations to Trump Accounts for children in his hometown ZIP code. The article says the gift is $250 for every child ages two to eight who lives in 11234.

Bisignano’s remarks about Brooklyn

The outlet quotes Bisignano as saying Brooklyn is his home and that his life was shaped by people, schools, and neighborhoods in Marine Park, Mill Basin, Bergen Beach, and Flatlands. He said the donation is meant to invest in Brooklyn children and give them “a boost” in their personal wealth-building journeys.

His current roles

According to FINCHANNEL, Bisignano is a former public company chief executive officer. The article also says he currently serves as the 18th Commissioner of the Social Security Administration, Chief Executive Officer of the Internal Revenue Service, and Executive-in-Charge of Trump Accounts.

What the article says about Trump Accounts

FINCHANNEL says the $250 donations are already in the children’s personal Trump Accounts and are invested in a fund that tracks top U.S. companies. The article says the accounts can grow tax-deferred over a lifetime. It also says ZIP code 11234 ranks in the top one percent of U.S. ZIP codes by population.

Broader account program details

Bisignano said Trump Accounts are “transformational savings vehicles” and said President Donald J. Trump created opportunities for children through them. FINCHANNEL reports that the Treasury Department created Trump Accounts this month for all eligible children in the United States with valid Social Security Numbers. The article says there are nearly 70 million total Trump Accounts, and more than 27 million currently have contributions totaling nearly $9 billion from families, friends, donors, and the U.S. government. It adds that parents or legal guardians must activate a child’s account for it to receive contributions from family, friends, and employers. The article also says children born between January 1, 2025, and December 31, 2028, are eligible for a $1,000 seed contribution from the U.S. Treasury.