Does Your Retirement Plan Need an Amendment for Saver’s Match?

Recently issued IRS Notice 2026-48 provides initial guidance on the Saver’s Match created by SECURE 2.0 largely to replace the current Saver’s Tax Credit. Under the Saver’s Match, beginning in 2027, eligible taxpayers with a maximum modified adjusted gross income (MAGI) of $35,000 ($71,000 for married filing jointly) are eligible to receive a matching contribution equal to 50% (reduced across a phaseout range as MAGI increases) of qualified retirement savings contributions up to $2,000. Qualified retirement savings contributions include contributions made by the taxpayer to a traditional or Roth IRA, elective deferrals to a 401(k), 403(b), or governmental 457(b) plan, SIMPLE 401(k) or IRA, SEP, and certain other specified contributions. Taxpayers will claim the Saver’s Match on a form filed with their tax return.