The government pledges to create an account for any baby born between 2025 and 2028, and to fund it with a one-time deposit of $1,000. To qualify, the baby need only have a Social Security number.Here’s how the accounts work, according to analyses from Morningstar , the Tax Foundation and other sources:“To me, if I drew a best-case scenario on that thousand dollars, it would be sitting in that IRA, compounding, until I retired,” said J. Spencer Williams , founder and CEO of the Retirement Clearinghouse, a f ...