The new Saver's Match program, which launches in 2027, allows low-income employees to receive a 50% federal matching contribution of up to $1,000, in addition to any employer match. However, before the program launches, the Internal Revenue Service and the Department of the Treasury have issued a notice requesting comments on Saver's Match contributions, which will be paid by the Treasury under an upcoming provision in the federal SECURE 2.0 legislation.

Saver's Match contributions represent a new approach to promoting retirement savings aimed to improve the long-term financial security for millions of low- to moderate-income Americans. By making annual contributions of up to $2,000 to a 401(k) plan or an Individual Retirement Account (IRA), an employee can receive as much as an annual $1,000 Saver's Match contribution from the Treasury.

The Saver's Match program is scheduled to replace the existing Saver's Credit, a nonrefundable tax credit available to eligible workers, providing a maximum credit of $1,000 annually per person and $2,000 per married couple. However, the credit was not deposited directly into retirement accounts. SECURE 2.0 sought to address this issue by changing the "credit" to a "match" – using the federal funds as an automated direct deposit feature.