Report Home The Retirement Savings Contribution Credit, or “saver's credit,” which was introduced in the Economic Growth and Tax Relief Reconciliation Act of 2001, allows filers with low and moderate incomes to reduce their federal income tax liability via a tax credit by making eligible contributions to a retirement or savings vehicle. This AARP Public Policy Institute paper by Lisa Southworth and John Gist uses detailed examples to show that the saver's credit has great potential to effectively target a retirement savings tax incentive to low- and middle-income taxpayers, including a substantial number of filers over age 50. It concludes that Congress could improve the credit by making it refundable, expanding eligibility, smoothing the credit rate drops, and supporting public education efforts in order to maximize the use of this incentive to save. (8 pages) Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures
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