The Saver's Match, a provision of the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0), is designed to save in qualified retirement savings accounts through a match from the US Treasury Department, up to $1,000 for every $2,000 saved in a year. In response to a Request for Comments from the IRS and US Treasury Department, Urban research and policy experts provide supporting evidence and a set of principles to consider when making implementation decisions regarding the Saver's Match. Their comments focus on implementation that maximizes claiming of the Saver's Match by eligible Black, Latino, and low-income people who have been previously excluded or overlooked by the retirement savings system.
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- Pages
- 10
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- United States of America
Table of Contents
- Retirement Savings as a Component of Financial Well-Being 2
- Barriers to Saving for Retirement and Resulting Disparities for People of Color and Small Business Employees 3
- How the Savers Match Improves Upon the Savers Credit 4
- Addressing Barriers to Access and Participation in Savers Match Implementation 5
- 1. Maximize the eligibility of populations with the greatest barriers to saving for retirement. 5
- 2. Make the Savers Match automatic. 6
- 3. Identify and target actionable outreach and assistance to marginalized savers. 7
- 4. Reduce structural barriers to eligible savers claiming the match. 9
- 5. Advance ongoing efforts to improve federal customer experience and service delivery. 10
