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To determine if your business has been exempted from the 2023 Annual Report fee, please check the following list of SDAT IDs that met the exemption criteria and have been approved for the fee exemption. View the list

  • Are workers of only certain immigration statuses eligible for the program? What about undocumented workers?

    Only workers with a verifiable Individual Tax Identification Number (ITIN) or Social Security number (SSN) can participate in the program. If a worker's information cannot be verified, the worker will not be enrolled, and an account will not be established for them. NOTE: Information provided to...

  • Autoenroll Notice / Opt-Out Form

  • Autoenroll Notice / Opt-Out Form (Español)

  • Beneficiary Addendum Form

  • Beneficiary Designation Form

  • Beneficiary Designation Form (Español)

  • Can cannabis-related businesses use MarylandSaves?

    Yes.

  • Can employers match employee contributions?

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

  • Can I contribute a set dollar amount per paycheck instead of a percentage?

    At this time, our payroll process is set up to process percentages only. If you’d rather contribute a fixed dollar amount each month, you can add a bank account to your WorkLife Account and contribute that way.

  • Can I have a designated employee or payroll services provider complete the registration and enrollment process?

    Yep. You can elect to add a “Teammate” as an administrator to your account to help facilitate the MarylandSaves program if you choose not to do it yourself. This could be an authorized employee or even staff from your payroll provider. Best of all, the program is designed to work seamlessly with...

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MarylandSaves
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Employer assistance
1-833-811-7437

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1-833-811-7438

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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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