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Find out how to see if your business qualified for the 2024 SDAT filing fee waiver here.

Can employers match employee contributions?

No. Federal law does not permit employer contributions to IRAs.

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Employer assistance
1-833-811-7437

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1-833-811-7438

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Program Description
Privacy Policy
Maryland Small Business Retirement Savings Program
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MarylandSaves (the “Program”) is sponsored by the Maryland Small Business Retirement Savings Program (“MSBRSP” or “the Board”) through Maryland Small Business Retirement Savings Program, Inc. (“MSBRSP”), an instrumentality of the State of Maryland. Vestwell State Savings, LLC (“Vestwell”), dba Sumday Administration (“Sumday”), is the program administrator. Sumday and The Bank of New York Mellon are responsible for day-to-day program operations. Information about MSBRSB and the program’s management and staff can be found at MarylandSaves.org.

Under Maryland law, the Maryland Small Business Retirement Savings Board is a fiduciary with responsibility to act in the best interests of savers and in accordance with applicable law.

MarylandSaves’ investment options are selected by the MSBRSB. For more information on MarylandSaves’ investment options, go to MarylandSaves.com. Account balances in MarylandSaves will vary with market conditions, except for the Emergency Savings Fund which is invested in a guaranteed investment contract issued by The Lincoln National Life Insurance Company. Account balances are not guaranteed or insured by the MSBRSP, the State of Maryland, the Federal Deposit Insurance Corporation (“FDIC”) or other government organizations.

Participants who use MarylandSaves beneficially own and have control over their Roth or traditional Individual Retirement Accounts (“IRA”), as provided in the Program Description.

Participation by savers in MarylandSaves is completely voluntary. Saving through an IRA will not be appropriate for all individuals, and eligibility to contribute to a Roth IRA may be limited based on certain federal Internal Revenue Code income-based restrictions. Employer registration of employees with MarylandSaves is not an endorsement or recommendation of MarylandSaves, IRAs, or the investment options in the program. Contributing to a MarylandSaves IRA through payroll deduction offers some tax benefits and consequences. You should consult appropriate professional advice or consultation if you have questions related to taxes or investments.

The MarylandSaves name and the MarylandSaves logo are trademarks of the MSBRSP and may not be used without permission.

Privacy: Your information is private and will never be sold to any third party. Information about privacy policies for savers and employers can be found here.

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