Is my employer required to offer the MarylandSaves WorkLife Savings program?

NO, but under Maryland law, most Maryland employers will soon be required to offer their employees some sort of retirement savings. This can be a traditional pension, a 401(k) plan, a 403(b) plan, a SEP plan, a SIMPLE IRA plan, a governmental deferred compensation plan — or a WorkLife Account from MarylandSaves.

 

You can ask your employer if they are subject to the new requirement and whether they’re going to use MarylandSaves or offer another form of retirement plan.