Under a provision included in a legislative proposal known as "Secure 2.0" — which is included in an omnibus appropriations bill that cleared the Senate on Thursday and awaited a House vote — a retirement "saver's match" would be implemented, essentially changing how an existing tax credit works. That amount would be a maximum 50% of up to $2,000 in contributions to a qualifying account (so a maximum $1,000 match per individual). The current credit isn't always useful for taxpayersThe move to allow a federal matching contribution is being sought because the current tax credit is nonrefundable, meaning that if you owe no federal income tax, you don't get the credit. The match would be "a direct, substantial way to increase the retirement savings of lower and middle-income workers, and incentivize good retirement planning habits," Carlisle said. More than 108 million people would be eligible for the saver's match, according to the American Retirement Association.

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