Tag: low incomes and poverty

Image of falling money

The IRS effectively gives money away to low-income Americans who save for retirement. Workers meeting the agency’s income requirements can receive a Saver’s Tax Credit equal to as much as half of their total deposits into a 401(k) or IRA. The lower one’s income, the bigger the credit. The program, which was made permanent in…

balance

There’s a growing awareness of the chasm between average working Americans and those at the top of the earnings scale. What isn’t widely recognized is that this broad economic trend is spilling over into retirement incomes, which depend on how much people earn and save while they’re still working. “The increasing wage inequality we s…