401(k) Plan Notice: Get the “Credit” you deserve!

You may be eligible for a valuable incentive, which could reduce your federal income tax liability, for contributing to your company’s 401(k). If you qualify, you may receive a Tax Saver’s Credit of up to $2,000 ($4,000 for married couples filing jointly) if you made eligible contributions to an employer sponsored retirement savings plan. The deduction is claimed in the form of a non-refundable tax credit, ranging from 10% to 50% of your annual contribution.  See Employee Memo