Get answers to frequently asked questions

Maryland’s new state-sponsored retirement savings program is open right now. It was created to help nearly one million Marylanders who work but don’t have access to employer-sponsored retirement plans. We understand you’ll have questions. Here are the answers to some frequently asked questions. If you have additional questions, we’re here to help.

Am I eligible for the Saver's Credit from the IRS?

The Saver's Credit is a federal tax credit you can get for making contributions to your retirement plan. It can be worth from 10% to 50% of your annual contributions, but the eligibility and conditions for the credit are complicated. For more information, visit the IRS website. You may also want to consult with a tax expert or financial advisor.