Program details and eligibility requirements

The Saver’s Match program provides eligible low- and moderate-income taxpayers a matching government contribution paid directly to their retirement account. Unlike the current Saver’s Credit, the match is a direct government deposit rather than a credit against taxes owed. The program is designed to make saving for retirement easier and more rewarding for millions of Americans.

“Millions of low- and moderate-income Americans will have the opportunity to strengthen their retirement savings through the Saver’s Match program,” said IRS Chief Executive Officer Frank J. Bisignano in a statement. “The Saver’s Match makes saving easier and more rewarding by providing a direct federal contribution to an eligible taxpayer’s retirement account.”

To dig deeper, visit the original article on the Thomson Reuters blog.