This bill lets full-time students qualify for the saver’s credit and the saver’s match. Right now, students are often blocked. Under this change, the main people who would still be excluded are those who are claimed as a dependent on someone else’s tax return.

Key points

• Who is affected: Full-time students. They can qualify unless someone else claims them as a dependent for that year.
• What changes: The tax code’s student exclusion is replaced with a clearer rule that only dependents are excluded, for both the saver’s credit and the saver’s match.
• When: The saver’s credit change applies to contributions made after the bill becomes law. The saver’s match change takes effect the same way as in a prior law it references.