Employers

Program details

MarylandSaves won’t charge you a dime — and your employees will get both emergency and retirement savings

Newly eligible businesses

December 31, 2024

Next deadline

Qualify for next year’s waiver

If you register and start sending payroll contributions by December 31, you can save $300 every year.

Already offer a qualified plan?

If you already offer a qualified retirement plan to your employees, use your EIN and SDAT number to claim your annual report fee waiver online.

Claim waiver

Employer eligibility

You’re required to register if you:

Have been in operation for at least 2 calendar years
Have at least one employee over the age of 18
Use an automated payroll system

Registration information

To begin, you’ll need your:

Federal Employer Identification Number (EIN)
MarylandSaves Access Code from your notification

Don’t have your Access Code?

If you are unable to find the Access Code for your business, you can look it up online

No employees or process payroll manually?

Businesses with no employees or that run manual payroll are not required to register for MarylandSaves under state law and can certify their exemption online.

Certify exemption

Onboard your company for MarylandSaves

There are just a few steps you need to take to get started. Take a look at this video to get you acclimated:

Resources

Registration

Contributions

Maintenance

Your responsibilities as an employer

We know that running your business is your top priority. That’s why MarylandSaves is easy to set up and requires only light account maintenance. The process takes just three simple steps. We’ll take care of the rest, at no cost to you.

Register

Set up your ID and password, answer questions about your company and payroll process, complete payment setup, and then add your employees.

You can even invite a payroll representative to help you facilitate this process. Your payroll representative can be an admin, a teammate, or even your bookkeeper or payroll administrator.

Send contributions

Once you have added employees, we will communicate directly with them to explain their options during the 30 days they have to opt out or customize their account.

At the end of the 30-day period, you will record their choices, begin payroll deductions, and submit contribution information and funding for the employees who choose to stay in the program.

Maintenance

To stay in compliance, continue to send payroll contributions and maintain employee records, including updating contribution rate changes when needed, adding new employees, and marking former employees as terminated.

Things you won’t be responsible for

Enrolling employees into their MarylandSaves Roth IRA.
Answering questions about MarylandSaves and its investment portfolios, or helping employees choose investments.
Managing MarylandSaves investment options and processing employee investment change requests.
Processing distributions from employee investment accounts.
Managing employee investment account changes. Your employees will be responsible for maintaining their account information and settings if enrolled.

Have questions? We’ve got answers in our FAQs.

Read the FAQs

Reference

*This applies to businesses that have been in operation for at least 2 calendar years, have at least one employee, and use an automated payroll system. The $300 annual report filing fee for entities doing business in Maryland is waived for registered employers. Md. Code, Corporations and Associations Art., § 1.203(b)(3)(ii), (13).