Vermont Saves has been live since December 2024. It applies to Vermont employers with 2+ employees that do not offer a qualifying retirement plan. Penalty: Up to $75 / employee / yr (escalating). Already passed: 5+ employees (2025-03-01); 2–4 employees (newly eligible Feb 2026) (2026-06-30) — unregistered employers should register or certify an exemption now.
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Vermont Saves covers Vermont employers with 2+ employees that do not offer a qualifying retirement plan. Counting rule: Two or more employees at any time during a calendar year (Vermont Saves Program Rule, February 2026). Must have been in business in a prior calendar year (program: two years).
Escalating: $20 per employee (2025-10-01 to 2026-09-30); $75 per employee (on/after 2026-10-01). The program has launched; enforcement has not begun.
Already passed: 5+ employees (2025-03-01); 2–4 employees (newly eligible Feb 2026) (2026-06-30) — unregistered employers should register or certify an exemption now. Newly eligible employers: at least 30 days after the notice.
3 V.S.A. §§531, 535; Vermont Saves Program Rule §I.12 · Official program: vtsaves.vermont.gov · Verified 2026-09-17.
Vermont Saves is Vermont's state-facilitated retirement savings program. It has been live since December 2024. Program: https://vtsaves.vermont.gov.
Vermont Saves covers Vermont employers with 2+ employees that do not offer a qualifying retirement plan. Counting rule: Two or more employees at any time during a calendar year (Vermont Saves Program Rule, February 2026). Must have been in business in a prior calendar year (program: two years).
Escalating: $20 per employee (2025-10-01 to 2026-09-30); $75 per employee (on/after 2026-10-01). The program has launched; enforcement has not begun.
Already passed: 5+ employees (2025-03-01); 2–4 employees (newly eligible Feb 2026) (2026-06-30) — unregistered employers should register or certify an exemption now. Newly eligible employers: at least 30 days after the notice.
Exempt with a plan under 401(a)/401(k), 403(a)/403(b), SEP (408(k)), SIMPLE (408(p)) or 457(b); certification required. A private 401(k) or SIMPLE IRA satisfies the mandate and may qualify for SECURE 2.0 startup credits.
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