President Trump signs an executive order designed to make it easier to put away money for retirement.

FOX's Jared Halpern has more from Washington:

An executive order signed by President Trump in Charlotte directs the Treasury and Labor Department to consider new guidelines about retirement account rules go let retirees keep more money saved longer.

Current law requires retirement accounts begin to be withdrawn at age 70 and a half:

(President Trump) "We believe all Americans should be able to retire with the confidence, dignity and economic security that you want. We're gonna make sure you can do that."

President Trump says the administration could also look at making retirement plans easier for small businesses by letting businesses band together on joint plans.

In Washington, Jared Halpern, FOX News.

Follow Jared Halpern on Twitter: @JaredHalpern