Wyden Unveils Bill to Double Saver’s Match to $2,000, Expanding Eligibility
Updated
Updated · Bloomberg Tax · Sep 28
Wyden Unveils Bill to Double Saver’s Match to $2,000, Expanding Eligibility
2 articles · Updated · Bloomberg Tax · Sep 28
Summary
$2,000 in federal retirement matching would be available under Senator Ron Wyden’s Savers Match Enhancement Act, which broadens access for more low- and moderate-income Americans.
The bill would raise the match from 50% to 100% on the first $2,000 contributed, effectively doubling the current maximum benefit and indexing the cap to inflation.
Eligibility would also expand beyond the current Saver’s Match framework created in SECURE 2.0, which is scheduled to take effect in 2027.
Wyden’s proposal highlights fresh Senate Finance Committee interest in a bipartisan retirement-savings push, especially for workers who lack employer matching and face higher living costs.