MarylandSaves: A Private Employer Retirement Savings Program, Launches September 1, 2022
Maryland employers need to be aware that, effective September 1, 2022, certain employers must set up a mandatory retirement program for employees. In 2016, the Maryland General Assembly passed House Bill 1378 creating the Maryland Small Business Retirement Savings Program and Trust, or “MarylandSaves” for short. Initially planned to go into effect in 2020, but delayed due to the COVID-19 pandemic, the law creates an obligation on employers...
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