MarylandSaves: Maryland Retirement Mandate for Employers

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, December 31, 2026

Newly eligible employers: no statutory date.

Md. Code, Lab. & Empl. §§12-101, 12-402; Corps. & Ass'ns §1-203(b)(13). Official program: MarylandSaves official site. Verified September 17, 2026.

You must take part if your business has at least one employee in Maryland and you do not offer a qualified retirement plan, such as a 401(k) or SIMPLE IRA. The section above explains exactly how Maryland counts your employees.

The next date to know is December 31, 2026: 2027 fee-waiver claim.

Maryland has no dollar penalty for employers. You still need to register or certify an exemption.

Offer your own qualified retirement plan and certify it with MarylandSaves. What counts in Maryland: 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.

MarylandSaves spares you from running a plan, but it allows no employer match and caps each saver at the IRA limit ($7,500 for 2026). A 401(k) allows up to $24,500 per employee for 2026, lets you add a match, and credits can offset much of the startup cost for eligible employers.