Fact-check · Nov 5, 2026 · Donald Trump
“With Biden, they were down 25%. With me, they're up 74%.”
FALSE
What the record shows
Biden administration: 401(k)s declined 15.3% inflation-adjusted (2021-2025). Trump second term: 401(k)s rose 16.9% nominally, 15.1% inflation-adjusted (Q1-Q3 2025), per Unleash Prosperity study.
Speaker overstates Biden decline (claims 25%, actual ~15%) and vastly overstates Trump gains (claims 74%, actual ~17%).
Sources
Vote Unbiased checks what officials say against government data — BLS, BEA, Census, Treasury, the Fed — with sources cited. Every speaker, every party, same standard. See the data →