Maryland Saves Program Update Lunch & Learn

EVENT OBJECTIVE

Overview of the Maryland Saves Program: Introduce the program's purpose, benefits, and the role it plays in aiding Marylanders without access to a workplace savings plan.

Legal Requirements and Employer Obligations: Understand the legal requirements for businesses regarding the Maryland Saves Program, including the mandate for businesses using automated payroll systems to either offer a retirement plan or sign up for MarylandSaves.

Employee Participation and Benefits: Learn how employee participation is handled, including automatic enrollment, voluntary participation, and the ability to opt-out or customize savings options.

Program Benefits for Employers: Highlight the incentives for employers to participate, such as the $300 waiver of the Maryland business annual filing fee, and the ease of the registration process.

Navigating the Enrollment Process: Provide a step-by-step guide for employers to enroll in the program with efficiency and compliance.

Understanding the Fee Structure and Investment Options: Review the cost structure for employee accounts and the investment options offered, emphasizing the low-cost nature of the program compared to commercial alternatives.

Impact on Accountants and Tax Preparation: Discuss how the program affects tax preparation and financial advising for clients, and the potential tax implications and benefits for both employers and employees.

Updates from the Maryland Saves Executive Director: Receive the latest program updates and future outlook directly from the Executive Director of MarylandSaves, ensuring up-to-date knowledge and application.

By the end of this course, participants will have a detailed understanding of the Maryland Saves Program, enabling them to provide informed advice and services related to this state-sponsored retirement and emergency savings plan.