IRS Seeks Comment On A New Savings Plan For Retirement Funded By The Treasury

The IRS is asking for comments about a new way to save for retirement. The super-charged saver’s match builds on the existing saver’s credit and has been described as “an important opportunity to improve the long-term financial security for millions of low- to moderate-income Americans.” Under the plan, beginning in 2027, qualifying individuals making annual contributions of up to $2,000 to certain retirement plans will be eligible to receive up to $1,000 in a saver’s match contribution from the Treasury each year.