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Nation's capitol building with flag at half mast A flag at half mast outside the U.S. Capitol in Washington, D.C. on Wednesday, January 13, 2021, days after thousands of President Trump’s supporters stormed the building, destroying property and killing a Capitol Police officer.

Senate Finance Committee Chairman Ron Wyden, D-Ore., and six Democratic colleagues introduced on July 22 the Encouraging Americans to Save Act, legislation to help working and middle-class families save for retirement, including a 50% government match on contributions of up to $2,000 per year made to 401(k)-type plans and IRAs.

The Encouraging Americans to Save Act restructures the existing, nonrefundable saver’s credit into a refundable, government matching contribution of up to $1,000 a year for middle- and moderate-income workers who save through 401(k)-type plans or IRAs. Structuring the payment as a matching contribution will make it available to more Americans, Wyden says.

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Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. She also wrote freelance articles for Institutional Investor in New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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