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  1. MarylandSaves
  2. Frequently Asked Questions
  3. Saver FAQs

Is investing in MarylandSaves WorkLife Savings Account the same as putting money in a bank?

No, there are big differences. Banks offer checking and savings accounts that typically pay less interest and might offer other savings and investment products. MarylandSaves helps you save through payroll contributions to your Roth IRA and allows you to invest in various targeted, market-based investments.

Articles in this section

  • How are my contributions made?
  • Will services be available in other languages?
  • Is there a limit to how much I can contribute?
  • Is my contribution pre-tax or post-tax?
  • What is the default contribution rate?
  • I’m self-employed. Can I set up my own MarylandSaves account?
  • Where do my contributions go?
  • Are there income limits to participate in MarylandSaves?
  • Is investing in MarylandSaves WorkLife Savings Account the same as putting money in a bank?
  • Is there a minimum retirement age for MarylandSaves?
See more

Related articles

  • Can I make withdrawals? 
  • Where do my contributions go?
  • Is there a minimum retirement age for MarylandSaves?
  • Are there additional withdrawal restrictions beyond normal Roth IRA restrictions?
  • Is my contribution pre-tax or post-tax?
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