Control your financial future

Saving for emergencies and retirement just got a lot easier

Under Maryland law, most Maryland employers are now required to offer their employees access to retirement savings.*

Employers who already offer a qualified retirement plan or register and submit payroll contributions before December 1 will earn a $300 SDAT annual report filing fee waiver starting the next year.

MarylandSaves is available for:

  • Maryland workers whose employers do not offer a workplace retirement plan

  • Self-employed individuals

  • Others who want an easy way to save in a Roth Individual Retirement Account (IRA) they can take wherever their career leads

Great benefits to help you succeed

Employer benefits

  • Be competitive by offering a great benefit to your employees that many small businesses don’t

  • There’s no cost for employers to register and no employer contributions to make

  • Getting started is fast, easy, and secure

  • Works seamlessly with any payroll process

  • Stay competitive by offering a great benefit to your employees

  • You save $300 a year in waived state annual report filing fees

Learn more about employer benefits

Saver benefits

  • Have money when you need it, for emergencies and when you retire

  • You’re in control of how much you contribute each month

  • Paycheck contributions have the potential to grow over time

  • Your account stays with you through career changes without complicated rollovers

  • Participation is voluntary — stay enrolled or opt out and rejoin whenever you want

Learn more about saver benefits

A message from Comptroller Brooke E. Lierman

Maryland Comptroller Brooke Lierman Supports MarylandSaves w Captions
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Financial security is a growing concern!

In a recent study, one in four Americans said they had no retirement savings.¹

References

* This applies to businesses that have been in operation for at least 2 calendar years, have at least one employee,over the age of 18 years old, and use an automated payroll system.

The $300 annual report filing fee for entities doing business in Maryland is waived for registered employers and those who have a qualifying retirement savings program in place. Md. Code, Corporations and Associations Art., § 1.203(b)(3)(ii), (13).

1. Your Evening Briefing: One in Four Americans Have No Retirement Savings,” Bloomberg, 17 April 2023. https://www.bloomberg.com/news/newsletters/2023-04-17/bloomberg-evening-briefing-one-in-four-americans-have-no-retirement-savings.