Saver's Credit: Who Qualifies for This Retirement Tax Break?

If your income isn't too high, the Saver's Credit can help lower your tax bill if you contribute to a retirement account.

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Saving for retirement is even more rewarding if you qualify for the Retirement Savings Contribution Credit, better known as the Saver's Credit. This tax break is designed to encourage people with low and middle incomes to begin building their retirement nest eggs. For those who qualify for the Saver's Credit, the lower your income, the higher the percentage of retirement plan contributions you get back on your tax return.

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Married Filing JointlyHead-of-HouseholdOther Filing StatusesPercentage of Contribution Allowed
AGI of $43,500 or lessAGI of $32,625 or lessAGI of $21,750 or less50%
AGI of $43,501 to $47,500AGI of $32,626 to $35,625AGI of $21,751 to $23,75020%
AGI of $45,501 to $73,000AGI of $35,626 to $54,750AGI of $23,751 to $36,50010%
AGI over $73,000AGI over $54,750AGI over $36,5000%

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David Muhlbaum
Former Senior Online Editor

In his former role as Senior Online Editor, David edited and wrote a wide range of content for With more than 20 years of experience with Kiplinger, David worked on numerous Kiplinger publications, including The Kiplinger Letter and Kiplinger’s Personal Finance magazine. He co-hosted  Your Money's Worth, Kiplinger's podcast and helped develop the Economic Forecasts feature.

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