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April 26, 2022
The Saver’s Credit: A Tax Credit That Pays to Save for Retirement report provides an overview of the Saver’s Credit, a historical trend analysis, research findings from TCRS 22nd Annual Retirement Survey, and recommendations for public policy. Twenty years since its establishment, the Saver’s Credit has proven to be an important incentive for workers to save for retirement. However, many workers are inadequately saving and have a tenuous retirement outlook.
Policymakers have an opportunity to enhance and expand the Saver’s Credit, with ideas such as implementing an ongoing educational campaign to promote it, simplifying it, and making it refundable.
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