Saver's Credit - Tax Incentive for Retirement Savers 

Savers Credit - A Tax Incentive for Retirement SaversThe Saver's Credit is an important federal tax credit that many eligible taxpayers who are saving for retirement may be missing out on. Only 47% of workers are aware of the credit, according to the 24th Annual Transamerica Retirement Survey of workers.
 
Help spread the word and share the following resources about this tax credit with family, friends, employees, and clients. Some resources are also available in Spanish. 

 

How to Claim the Saver's Credit

Tax Year 2024 - Fact Sheet 

Download

How to Claim the IRS Savers Credit

Reclamar el Crédito del Ahorrador

El año fiscal 2024 - Hoja de datos

Descargar

Reclame el credito del ahorrador


Who Is Aware of the Saver's Credit

24th Annual Retirement Survey Infographic 

Download

Who Is Aware of the Savers Credit Infographic


Saver's Credit Trend Analysis Report

April 26, 2022

The Saver’s Credit: A Tax Credit That Pays to Save for Retirement report provides an overview of the Saver’s Credit, a historical trend analysis, research findings from TCRS 22nd Annual Retirement Survey, and recommendations for public policy. Twenty years since its establishment, the Saver’s Credit has proven to be an important incentive for workers to save for retirement. However, many workers are inadequately saving and have a tenuous retirement outlook.

Policymakers have an opportunity to enhance and expand the Saver’s Credit, with ideas such as implementing an ongoing educational campaign to promote it, simplifying it, and making it refundable.

Important Note: Subsequent to the publication of this report, the SECURE 2.0 Act of 2022 was enacted. Beginning in 2027, the new law reimagines and replaces the Saver's Credit with the Saver's Match, a matching contribution from the government for retirement savers meeting income eligibility requirements.



Report

Download

As Featured in:
Bloomberg Tax
Insights & Commentary


Read

Share and Tag Us on Twitter

@TI_insights 

@TCRStudies




More Helpful Resources