Smooth National Rollout

The most likely path is that Treasury, BNY Mellon, and Robinhood move from account creation to parent access with only ordinary implementation issues. Because the setup was already telegraphed by the September auto-enrollment announcement, the market impact is modest and concentrated in financial platforms and account administration.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.