Two Saver’s Match Resources Now Available

Retirement Clearinghouse (RCH) has launched two new Saver’s Match resources, which offer plan sponsors, plan providers and participants with consolidated information about the Saver’s Match program, as well as a new saver-focused tool – the Saver’s Match Estimator – which will calculate an estimated matching contribution under the program.

The new resources are openly available to the public at the following links:

• The Definitive Guide to the Saver’s Match Program
• Saver’s Match Estimator

The Definitive Guide to the Saver’s Match
This resource, available at https://RCH1.com/savers-match, represents a one-stop shop for information about the Saver’s Match, and answers the following questions:

• What is the Saver’s Match?
• Why is the Saver’s Match an Important Retirement Savings Public Policy Initiative?
• Why is the Saver’s Match an Improvement Over the Saver’s Credit?
• Who Qualifies to Receive a Saver’s Match?
• How Much Are the Matching Contributions That Individuals Can Receive?
• When Does the Saver’s Match Go into Effect?
• How Many People Will Qualify for the Saver’s Match?
• Who Will Benefit from the Saver’s Match?
• What Challenges Could Face the Saver’s Match Program?
• What’s Next for the Saver’s Match Program?
• Where Can I Learn More About the Saver’s Match?

On this page, you will also find links to relevant legislation, the latest research, and to informative articles and downloads – all of which will be expanded and updated as new information becomes available.

The Saver’s Match Estimator
Until now, to understand the personal impact of the Saver’s Match on their finances, savers could read tax jargon. For example:

The match is based upon modified adjusted gross income (AGI) and phases out between $20,500 and $35,500 for single filers, between $30,750 and $53,250 for head of household filers, and between $41,000 and $71,000 for joint filers. The match is 50 percent of annual contributions, up to $2,000 per individual, for a maximum matching contribution of $1,000 per individual per tax year. The matching rate phases out on a straight-line basis for the income ranges noted above.

Now, savers can also visit the Saver’s Match Estimator (https://RCH1.com/savers-match-estimator), enter their tax filing status, their adjusted gross income (AGI) and their annual retirement plan contribution. The estimator will then calculate an estimated matching contribution that they could receive under the program.

It’s important to note that the Saver’s Match Estimator is for educational purposes only, does not produce a definitive Saver’s Match calculation and does not constitute legal and/or tax advice.

Two New Saver’s Match Resources
The Saver’s Match program is arriving sooner than you think. We believe that these new Saver’s Match resources will be particularly useful, and we hope that you give them a try. We also encourage you to share them within your network.