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SECURE 2.0’s Saver’s Match can close the retirement savings gap: Morningstar

The 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 – and will “significantly boost retirement wealth,” says Morningstar Center for Retirement.

By Lynn Cavanaugh | February 05, 2025 at 11:49 AM
Chris Nicholls

The Saver’s Match was created as a provision in SECURE 2.0.Beginning in 2027, the program will provide eligible taxpayers a 50% match on the first $2,000 of qualified retirement savings contributions, for a maximum match of $1,000 per individual for each tax year. That amount doubles to a maximum of $2,000 for plan participants or IRA contributors who are married and filing joint tax returns.

While the new retirement plan will not become effective for two more years, the Morningstar Center for Retirement and Policy Studies already believes it will close the retirement gap for Gen Z and millennials, as well as single women and low-income employees.

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