Savings Within Reach income guidelines will change January 1

The Savings Within Reach incentive track provides enhanced assistance for customers with moderate household income levels designated by federal poverty guidelines. Beginning on January 1, 2015, customers with incomes equal to 200 to 265 percent of 2014 federal poverty guidelines will be eligible to receive Savings Within Reach incentives.

Income-verification form 310MIT will be revised with the new income guidelines below. After January 1, 2015, the updated form must be completed prior to work beginning and submitted with the incentive application 320MIT in order to receive incentives.

Income includes all gross wages, tips, rental income, public assistance, social security or pensions, income from self-employment, alimony, interest or any other sources of income defined by the IRS income tax return. Approved Savings Within Reach trade ally contractors will receive the revised income-verification form 310MIT and the application form 320MIT by email at the end of 2014.

To learn how you can become eligible to offer Savings Within Reach incentives, attend an informational webinar on January 20. Register for the Savings Within Reach webinar here.

Household Size2014 Income Guidelines2015 Income Guidelines
1 person$20,03527,075$23,340$30,926
3$34,996 $45,775$39,580$52,444
4$42,475$55,125 $47,700$63,203
5$49,955 $64,475 $55,820$73,962
6$57,435 $73,825 $63,940 $84,721
7$64,915 $83,175 $72,060 $95,480
Each additional person$7,480$9,350$8,120$10,759