Trump’s new 401(k) match collides with a harsh reality: More workers are dipping into their retirement cash just to get by

During his State of the Union speech last week, President Donald Trump took a victory lap, unveiling a new 401(k) program for workers lacking employer-sponsored programs. But the proposal has one small snafu: Some of the people are digging into their savings to stay afloat.

The proposal, a federal match of up to $1,000 annually for workers who lack access to employer-sponsored match 401(k) plans, looks past a critical feature of American life: who even has $1,000 to invest?

With...