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Do I need to report contributions on my employees’ W2s?
No. The MarylandSaves program is structured as a payroll deduction IRA and not as a traditional retirement plan that needs to be reported on your employees’ W2s. The IRA trustee for the MarylandSaves program will file “Form 5498, IRA Contributions Information” with the IRS (as needed for your...
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Does MarylandSaves charge employers any fees?
No. There are no employer fees.
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Does MarylandSaves have printed or electronic materials to help my employees understand the benefits?
Yes. There are educational materials your employees can access on our website.
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Does the program provide information and consumer protections to savers?
Yes, MarylandSaves helps ensure that employees have more choices, more information, and easier access to retirement savings accounts. The MarylandSaves Board are legally fiduciaries obligated to protect savers’ interests. Consumer protections are included in the program and may be enforced by...
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Empleadores
Regístrese hoy Comience el proceso de inscripción aquí. Inscribirse es el primer paso sencillo para ayudar a sus empleados a ahorrar para su futuro y para ahorrarle a su empresa $300 el 15 de abril. Para comenzar, necesitará el código de acceso único que se le envió y su número del State Department...
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Employee Fact Sheet
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Employee Fact Sheet en español
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Employer Fact Sheet
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Employer Fact Sheet en español
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Employer FAQs
MarylandSaves is a workplace savings program created to make it easy for Maryland businesses to help their employees save. The State of Maryland wants all Maryland businesses to be able to offer retirement savings, but many do not because they don’t have the people, time, or money to buy a plan,...