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February 1, 2016

Government tries to make it easier to save for retirement

By CAROLE FELDMAN
Associated Press

WASHINGTON — Saving for retirement might seem like a luxury to Americans living paycheck to paycheck, but the government is trying to make it a bit easier.

The saver's — or retirement savings contributions — credit is sometimes overlooked. Aimed at low- and moderate-income workers, the credit “helps offset part of the first $2,000 workers voluntarily contribute to IRAs and 401(k) plans and similar workplace retirement programs,” the Internal Revenue Service says.


 
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