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Millions of Americans saving for retirement are eligible for a tax break known as the Saver’s Credit. However, more than half of them are not aware that it is available.

“Saving for retirement can be difficult in the best of times but even harder for many during the pandemic and challenging economy,” said Catherine Collinson, CEO and president of Transamerica Institute. “The Saver’s Credit may help make it easier for people to save, because it lowers their federal income tax.”

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