Social Security Chief Bisignano Donates $250 to Brooklyn Children's Investment Accounts
The agency head is funding Trump Accounts for ages 2 to 8 in his former Brooklyn neighborhood, a move that directs capital into individual savings vehicles.
By Yuki Melnyk ·
Frank J. Bisignano has contributed $250 to the investment accounts of young children in Brooklyn.
Bisignano, the current head of the Social Security Administration, announced the donation on Oct. 29, 2026. He grew up in the Old Mill Basin neighborhood and cited his personal history in the area as the motivation for the gift. The funds are being distributed through The Bisignano Family Fund. The specific target for the donation is ZIP code 11234. This geographic designation includes the neighborhoods of Mill Basin, Marine Park, Bergen Beach, and Flatlands. Eligible recipients are children between the ages of 2 and 8 who reside in that postal code.
The money has already been deposited into the individual Trump Accounts held by qualifying children. These accounts are part of a federal program that provides investment vehicles for eligible minors. The deposited funds are currently invested in a fund designed to track the performance of leading U.S. companies. Under the program's rules, investment growth within these accounts is deferred from taxation until withdrawal. Bisignano stated that the donation is an investment in the children of Brooklyn. He noted that his life was shaped by the people, schools, and neighborhoods in Marine Park, Mill Basin, Bergen Beach, and Flatlands. He described the contribution as a boost to their personal wealth building journeys.
The initiative directs private philanthropic support directly into individual children's savings, rather than to a general charity. This structure allows the funds to accumulate over time for the benefit of specific families. Parents and legal guardians must activate their children's accounts to receive contributions from various sources, including family, friends, and employers. A separate federal provision also offers a $1,000 seed contribution from the U.S. Treasury. This additional funding is available to children born between Jan. 1, 2025, and Dec. 31, 2028, subject to specific program requirements.
Source: BK Reader
