Savings Incentives for Low- and Moderate- Income Families in the United States: Why Is the Saver’s Credit Not More Effective?
نویسندگان
چکیده
This paper uses data from the largest tax preparer in the United States to estimate the impact of the “saver’s credit,” a US federal program providing financial incentives to encourage retirement savings, on the decision to contribute to an IRA. It finds significant, but very modest, effects. This is contrasted with results from a field experiment showing much larger impacts of clearly presented matching incentives. Various explanations are discussed for why the saver’s credit is not more effective. (JEL: H00, H31, C93, D14)
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