Treasury Plans Guidance on 401(k) Match Contribution Program

The Treasury Department is working on guidance to implement a program that allows 401(k) savers to receive an annual match contribution from the federal government starting in 2027, an official said.

Treasury and the IRS are working on substantive guidance on the Saver’s Match program, which under the SECURE 2.0 Act allows for a match contribution of up to $1,000 annually for 401(k) savers, said Robert Daily, a Treasury attorney-adviser, during a Friday panel at the American Bar Association Tax Section’s midyear meeting in San Diego.

The guidance may be structured as a notice of intent to propose regulations, Daily ...