Today’s Lead Story
Tuesday, August 18Retirement
New Federal Program Will Match Up to $1,000 Annually into Retirement Accounts Starting 2027
via IRS
A new federal Saver's Match program will deposit up to $1,000 per year directly into eligible workers' retirement accounts beginning in the 2027 tax year, the Treasury and IRS announced August 7. The match covers 50% of the first $2,000 saved annually and replaces the Saver's Credit for lower- and moderate-income workers.
Why it matters
Workers who haven't started saving for retirement because the tax credit incentive felt too distant may respond to direct deposits they can see grow in their account.
