What is the Saver’s Match?
Starting in 2027, the Saver’s Match will enable matching contributions to be deposited directly into taxpayers’ qualified retirement savings accounts. As many as 69 million Americans could benefit from this program, adding thousands of dollars into individual retirement accounts over time.
Given that retirement accounts provide an on-ramp to investing for most savers, the Saver’s Match can offer a way to add meaningful sums and build wealth for millions of households.
A Pro-Growth Policy
Our retirement savings system is the primary on-ramp to wealth creation for most Americans. It also enables more widespread access to investing in capital markets, expanding the number of Americans who can participate in the upside of the American economy.
Without retirement savings, AARP projects that Americans with low to moderate incomes today will have accumulated $225,000 in wealth by age 68. But with a combination of policies such as auto-enrolled IRAs and the Saver’s Match, these households could triple their net worth—to as much as $694,000.
Projections of Household Wealth at Age 68 for Households Earning Under $71,000 Today
Source: David John and Jim Webb, “The Saver’s Match Will Help Moderate Income Households Build Wealth,” AARP Public Policy Institute (forthcoming)
