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What’s With the Lack of Saver’s Credit?

Reports indicate that only about one in eight of those currently eligible for the saver’s credit take advantage. What’s up with that?

Of all the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), none seems so widely appreciated on Capitol Hill as the so-called saver’s credit. While it was one of the more expensive components of the legislation, lawmakers on both sides of the aisle have praised its role in supporting the savings of low and middle-income workers. However, the take-up rate on the feature has consistently underperformed expectations.

Granted, the income limits and filing requirements likely play a role, and sheer ignorance of the option likely plays a role. But this week, we’d like to know what role, if any, this provision plays in your communications, or those of your partners. And what, if anything, you think could be done to improve take-up rates.

Reply to this week’s NAPA Net reader poll at https://www.research.net/r/PRLPH3L.

And, of course, we’ll tally it all up for you on Friday!

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