Hotels, motels, restaurants and seasonal businesses in Bennington must comply with Vermont Saves if they meet the 2+ employees threshold — or offer a qualifying plan. Escalating: $20 per employee (2025-10-01 to 2026-09-30); $75 per employee (on/after 2026-10-01).
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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.
Yes, if the business meets the threshold. Vermont Saves applies to Vermont employers with 2+ employees that do not offer a qualifying plan. Hotels, motels, B&Bs and restaurants in Bennington follow the same rules as any other employer — seasonal operation does not exempt you.
Not automatically. Coverage depends on how Vermont counts employees: 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). Seasonal employers can also satisfy the mandate with a SIMPLE IRA or 401(k), which may exclude employees who work fewer than 1,000 hours a year.
Yes. 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 plan also gives you a real recruiting benefit for seasonal and year-round staff.
Yes. SECURE 2.0 Act tax credits are available to small businesses with fewer than 100 employees that start a new qualifying retirement plan (the full startup credit applies at 50 or fewer employees; it phases down from 51–100). Credits of up to $5,000/year for 3 years, plus up to $1,000 per employee in employer-contribution credits (phasing down over five years), are available regardless of whether your business is seasonal.
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. Penalty: 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. Contact Kandelaki Solutions for a free compliance audit.
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