Tax Policy Center

Fiscal Facts

April 24, 2023
In 2020, 9.4 million income tax returns (or 6% of total) claimed the Retirement Savings Contributions Credit (or Saver's Credit). This nonrefundable tax credit, enacted in 2001, matches a portion of voluntary contributions to 401(k)s, IRAs, and similar re
Fact: 
In 2020, 9.4 million income tax returns (or 6% of total) claimed the Retirement Savings Contributions Credit (or Saver's Credit). This nonrefundable tax credit, enacted in 2001, matches a portion of voluntary contributions to 401(k)s, IRAs, and similar retirement plans.