If your business has 2 or more employees in Vermont, has been in business at least 2 years, and offers no qualified retirement plan, Vermont Saves requires you to register or certify an exemption. All announced registration deadlines have passed.
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Informational only, not legal or tax advice.
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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: October 1, 2025 to September 30, 2026: $20 per employee; on/after October 1, 2026: $75 per employee. The program has launched; enforcement has not begun.
Newly eligible employers: at least 30 days after the notice.
If your group's date has passed and you have not registered, register or certify an exemption now.
3 V.S.A. §§531, 535; Vermont Saves Program Rule §I.12. Official program: Vermont Saves official site. Verified September 17, 2026.
You must take part if your business has 2 or more employees in Vermont and you do not offer a qualified retirement plan, such as a 401(k) or SIMPLE IRA. The section above explains exactly how Vermont counts your employees.
Every announced Vermont Saves deadline has passed. If you have not registered or certified an exemption, do it now.
Fines rise the longer you stay out of compliance, reaching $75 per employee per year at the top tier. Enforcement has not started yet.
Offer your own qualified retirement plan and certify it with Vermont Saves. What counts in Vermont: a plan under 401(a)/401(k), 403(a)/403(b), SEP (408(k)), SIMPLE (408(p)) or 457(b); certification required.
Vermont Saves 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.
Book a free 15-minute compliance audit. We'll show your exact requirement, your real exposure, and whether your own plan saves you money.