MarylandSaves has been live since September 2022. It applies to Maryland employers with 1+ employees (any payroll employer; no minimum headcount) that do not offer a qualifying retirement plan. Penalty: No monetary penalty — registration required. Upcoming: 2027 fee-waiver claim by 2026-12-31.
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Informational only, not legal or tax advice.
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MarylandSaves covers Maryland employers with 1+ employees (any payroll employer; no minimum headcount) that do not offer a qualifying retirement plan. Counting rule: No numeric threshold: any Maryland employer that pays employees through a payroll system or service. Must have been in business throughout the current and preceding calendar year.
Participating employers get the $300 annual state report filing fee WAIVED. No monetary non-compliance penalty. Employers must still register or certify an exemption.
Upcoming: 2027 fee-waiver claim by 2026-12-31. Newly eligible employers: no statutory date.
Md. Code, Lab. & Empl. §§12-101, 12-402; Corps. & Ass'ns §1-203(b)(13) · Official program: www.marylandsaves.org · Verified 2026-09-17.
MarylandSaves is Maryland's state-facilitated retirement savings program. It has been live since September 2022. Program: https://www.marylandsaves.org.
MarylandSaves covers Maryland employers with 1+ employees (any payroll employer; no minimum headcount) that do not offer a qualifying retirement plan. Counting rule: No numeric threshold: any Maryland employer that pays employees through a payroll system or service. Must have been in business throughout the current and preceding calendar year.
Participating employers get the $300 annual state report filing fee WAIVED. No monetary non-compliance penalty. Employers must still register or certify an exemption.
Upcoming: 2027 fee-waiver claim by 2026-12-31. Newly eligible employers: no statutory date.
Exempt if the employer offers, or offered in the preceding two years, an IRA, defined-benefit plan, 401(k), SEP or SIMPLE; to claim the fee waiver a non-participant must file the form every year. A private 401(k) or SIMPLE IRA satisfies the mandate and may qualify for SECURE 2.0 startup credits.
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