The Saver’s Match can help boost retirement savings for millions. But how does it work? From quick explainers to in-depth analysis, this page is your one-stop shop for understanding the design, impact, and origins of the Saver’s Match.
Get Me Up to Speed Fast: 5 Key Resources
The Saver’s Match Provision in SECURE 2.0
This two-page primer from the Aspen Institute Financial Security Program explores how the Saver’s Match can put thousands of dollars into retirement savings accounts for people with low income.
Sizing the Market for the Saver’s Match
This EBRI Issue Brief estimates the expected number of workers who would qualify for the match based on historical data and how many workers would be expected to receive these additional funds through the match. It provides important information on the scale and impact on the system for both those administering the accounts and the workers receiving the additional dollars.
The Impact of the Saver’s Match on Retirement Wealth
This Morningstar report examines the impact of the Saver’s Match on retirement wealth for a representative sample of Generation Z and millennial workers, finding mean boosts of up to 12 percent and even greater boosts for women and people of color.
How the Saver’s Match Could Promote Financial Inclusion
This survey from Retirement Clearinghouse analyzes responses from 3,000 retirement savers who would be eligible for the Saver’s Match to examine the potential behavioral impacts of the program as well as the potential challenges the program may face.
The Saver’s Match Could Benefit Millions of Low-to-Moderate-Income Americans
This Pew Research Center article articulates both the potential impact of the Saver’s Match and the potential implementation challenges, calling for greater collaboration between industry and government to maximize the program’s efficacy.
Measuring Impact
How Effective Might the Saver’s Match Be in Mitigating Race/Gender Disparities in 401(k) Plans
This Morningstar paper leverages evidence from the Collaborative for Equitable Retirement Savings to consider the implications of the Saver’s Match on retirement savers, what groups are most likely to benefit from the program, and what this data means for the future of retirement savings.
The Saver’s Match Could Be a Game Changer for Retirement Savings—Especially Black Women
This Morningstar article projects how this program could help close the racial wealth gap, underscoring the importance of participant behavior and the role of financial advisors in educating clients and developing personalized strategies to maximize the program’s benefits.
History & Origins
The Saver’s Credit: A Tax Credit That Pays to Save for Retirement
This Transamerica report offers an understanding of the Saver’s Credit, the precursor to the Saver’s Match.
Who Is Aware of the Saver’s Credit?
This infographic from Transamerica highlights one of the key challenges of the Saver’s Credit—awareness among retirement savers—which has implications for the successful implementation of the reimagined Saver’s Match.
Improving the Saver’s Credit for Low- and Moderate-Income Workers
This NIRS report reviews the structure of the Saver’s Credit and proposes several ways to make it more effective, especially for low- to moderate-income workers.
Could the Saver’s Credit Enhance State Coverage Initiatives?
This paper from the Center for Retirement Research at Boston College explores how the Saver’s Credit was limited in its effectiveness as a government match mechanism. However, changing the phaseout structure and making the credit refundable could
considerably enhance state retirement initiatives by encouraging participation and increasing the amount of money going into the plans.
Additional Context
IRS’ Request for Comments Regarding Implementation of Saver’s Match Contributions
This IRS site hosts the comments that were received regarding the implementation of Saver’s Match contributions, including those from AARP, the Chamber of Commerce, Pew, and others.
General Explanation of Tax Legislation Enacted in the 117th Congress
This brief from the Joint Committee on Taxation includes the legislative text for the Saver’s Match beginning on page 301.
The Retirement Savings Contribution Credit and the Saver’s Match
This Congressional Research Service brief describes and compares the Saver’s Credit and the Saver’s Match.
