En esta noticia
The Internal Revenue Service (IRS) will implement, starting in 2027, a new benefit aimed at encouraging retirement savings among low- and moderate-income workers who meet certain requirements.
This is the Saver’s Match, a program through which the federal government may contribute up to $1000 per person per year directly to a retirement account. The amount each taxpayer receives will depend both on their income and on the amount they have set aside for this type of savings.
How will the IRS benefit with up to $1000 work?
The Saver’s Match will begin to apply to retirement contributions made during fiscal year 2027.
According to the IRS, the federal government may match 50% of the money a person contributes, with a maximum of $1000 per year per taxpayer.
In this way, a person who contributes $2000 and meets the conditions to receive the maximum 50% rate could obtain another $1000 for their retirement savings.
The money will not be delivered as a check with unrestricted access. In general, the federal contribution will be deposited directly into the retirement account designated by the beneficiary and will be earmarked for that savings.
In the case of married couples who file jointly, the benefit is calculated individually for each spouse. Therefore, if both make contributions and meet the requirements, each could access their own Saver’s Match.
Who will be eligible for the Saver’s Match?
Certain requirements are needed to access the program:
- Make contributions to a retirement plan or an individual retirement account (IRA).
- Be at least 18 years old at the end of the fiscal year.
- Not be a student as defined by tax law.
- Not be listed as a dependent on someone else’s tax return.
- Be a U.S. resident for tax purposes.
It will not be necessary to owe federal taxes to access the program. According to the IRS, a person may qualify even if they owe little or no federal income tax.
In addition, the percentage the government contributes will depend on the modified adjusted gross income (MAGI) and the marital status used to file the return.
Saver’s Match: What will the income limits be
To receive the maximum contribution, equivalent to 50% of contributions, during 2027 the income limits will be:
- Single or married filing separately: up to $20.500
- Head of household: up to $30.750
- Married filing jointly and qualifying surviving spouses: up to $41.000
Those who exceed those amounts will still be able to access a partial contribution within certain ranges.
When can the $1000 of the Saver’s Match be claimed?
Although the program will begin with contributions made during 2027, eligible taxpayers will have to claim the benefit when filing their corresponding federal return for that year in 2028.
To do so, they will have to file the new Form 8880-A together with their annual tax return.
The IRS clarifies that during 2026 no procedure is necessary to request the new program. Starting in 2027, those who want to access it will have to make or continue making contributions to an eligible plan, such as a 401(k), 403(b), a government 457(b) plan, or a traditional or Roth IRA, and keep the records of those contributions.
The Saver’s Match will replace the current Saver’s Credit for eligible contributions intended for retirement plans or IRAs starting in fiscal year 2027.