MarylandSaves helps your employees – and your business – succeed.

Employer eligibility

Under Maryland law, most* Maryland employers must offer their employees some sort of retirement savings. This can be a traditional pension, a 401(k) plan, a 403(b) plan, a SEP plan, a SIMPLE IRA plan, a governmental deferred compensation plan — or a WorkLife Account from MarylandSaves. Unlike the alternatives, MarylandSaves won’t charge you a dime – and your employees will get both emergency and retirement savings.

Sign-up is quick, easy, and free. If you sign up by December 1, you can save $300 beginning in 2023, and every year after. Companies that register (or already have a retirement plan) don’t have to pay Maryland’s annual report filing fee. Don’t wait.^†

*This applies to businesses that have been in operation for at least 2 calendar years, have at least one W-2 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).

Registration information

If you have received your Access Code, click here to enroll in MarylandSaves or certify you already offer a retirement plan to employees. To begin, you will need your State Department of Assessments and Taxation (SDAT) number and your MarylandSaves Access Code from your notification. You can look up your SDAT number here.

If you have not received an Access Code and would like to enroll your business with MarylandSaves click here to request an Access Code.

Request an access code

Already offer a retirement plan?

It’s great that you’re already taking steps to help your employees save for retirement! You can certify that you do by using your Access Code.

If your business has not received an Access Code, you can still certify your compliance and claim your waiver here.

Not sure if your plan qualifies for exemption? Visit our Frequently Asked Questions to find out or contact Client Services at 1-833-811-7437.

Your role in three easy steps

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 quick steps. We’ll take care of the rest, at no cost to you.

Register

All Maryland business owners can register today and get $300 waived by Maryland. If you received an Access Code, you can register here.

If you do not have an Access Code, you can request one here.

Set up

Uploading employee and payroll info to the system is quick and easy. You can do it via your payroll processor or a delegate within your business.

Update

All you’ll need to do once you’re set up is basic ongoing maintenance. This includes submitting your payroll details every pay period and you or your payroll provider keeping your employees’ payroll contributions and staff list up to date. That’s it!

Things you won’t have to worry about

As an employer, you’ll have a limited role so you can stay focused on running your business. You will not be responsible for:

Making any employer contributions – they’re not allowed.
Setting up your employees’ retirement savings accounts. This happens automatically.
Answering questions about MarylandSaves and its investment options, or helping employees choose investments. We have a call center and website for that.
Managing MarylandSaves investment options and processing employee investment change requests.
Processing withdrawals or distributions from employee accounts.
Managing employee investment account changes. Your employees will be responsible for maintaining their account information and settings once they’re enrolled.