Roth IRA owners may need a second retirement account to claim the new Saver's Match

Solstock | E+ | Getty Images For lower- and moderate-income workers who contribute to retirement savings , the new federal Saver's Match — scheduled to start with the 2027 tax year — could be a much-welcomed addition to their nest egg . Yet many current savers may first need a different account to get the money. Authorized by the 2022 Secure 2.0 retirement legislation, the Saver's Match program will provide income-eligible retirement savers with a matching annual contribution worth up to $1,000 for single tax filers and $2,000 for joint filers. They can receive that benefit whether they save through a workplace plan like a 401(k) or an individual retirement account . The catch: Although contributions to an IRA may qualify workers for the match, any money the worker is entitled to can only go into a traditional IRA — not a Roth IRA . This means that workers who save via a Roth — including nearly all of those enrolled in state-run auto IRA programs — would need a traditional account to receive the match, experts say. As of April 30, more than 1.2 million accounts in the state programs held $3 billion in assets, according to Center for Retirement Initiatives at Georgetown University.