Fifty-three percent of U.S. workers are unaware of a tax credit that may help them save for retirement and lower their tax bill, according to survey findings from nonprofit Transamerica Center for Retirement Studies®(TCRS). The Saver's Credit, also referred to as the Retirement Savings Contributions Credit by the Internal Revenue Service (IRS), is available to millions of taxpayers who are saving for retirement.
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More Than Half of U.S. Workers Are Unaware of the IRS Tax Credit for Eligible Retirement Savers
Transamerica Center for Retirement Studies
Fact Sheet, Infographic, Press Release
Transamerica Center for Retirement Studies
Saver’s Credit can help low- and moderate-income taxpayers to save more in 2024
Retirement Savings Contributions Credit (Saver's Credit)
Claiming the Credit: Form 8880 - Credit for Qualified Retirement Savings Contributions
Topic 610 - Retirement Savings Contributions Credit
IRS Resources
Articles
Saver's Credit: What you need to know
Fidelity | Dec 2023
Saver's Credit: What It Is and How It Works
Nerd Wallet | Nov 2023
Tax Credit to be Converted to “Saver’s Match” in 2027
The Retirement Savings Contribution Credit and the Saver’s Match
Congressional Research Service | Dec 2023
Saver’s Match: Opportunity to Help Close Retirement Savings Access Gap
Plan Sponsor | Sep 2023
Retirement Saver's Tax Credit to be Converted to "Saver's Match" in 2027
Kiplinger | Dec 2022
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