MD Saves Workplace Retirement

Review your company’s options under Maryland’s new retirement account mandate

What is Maryland Saves?

Launched in September 2022, Maryland Saves is a workplace retirement and emergency savings program established by the State. If you own a business in Maryland and have at least one W-2 employee, you must comply with the new mandate requiring companies to either register for Maryland Saves or establish their own retirement offering.

Why does this matter?

As with most new government initiatives and regulations, Maryland Saves can be complicated and features several layers of important nuances to understand. Whether you already have a retirement savings account offering for your employees, intend to sign up for Maryland Saves or want to explore other options, there is action you must take to stay compliant with the State. As an added bonus, businesses that register or opt out of the program prior to Dec. 31, 2022, will have their annual filing fee of $300 waived.

How can Good News Financial & Investment Advisors help?

If you would like to set up a consultation to discuss your company’s options, please click here. To make the most of our time together and better prepare us for our conversation, click here to provide some brief details about your company’s goals for a retirement plan

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