Government grant for retirement savings

There is a little-known government grant available to individuals with modest incomes who are saving for retirement. The grant, called the Savers Credit, allows eligible individuals to receive a credit based on the amount contributed to an IRA. The credit amount varies depending on family income, with a maximum credit of $2,000 for married couples and $800 for singles. However, it's important to note that the Savers Credit is not refundable, so individuals must have a tax bill for the previous year to qualify.