{"id":781,"date":"2025-01-21T21:29:11","date_gmt":"2025-01-21T21:29:11","guid":{"rendered":"https:\/\/secure.eplanservices401k.com\/blog\/?post_type=article&#038;p=442"},"modified":"2025-09-25T14:52:57","modified_gmt":"2025-09-25T14:52:57","slug":"maryland-saves-has-arrived-make-sure-your-clients-know-their-options","status":"publish","type":"article","link":"https:\/\/secure.eplanservices401k.com\/marketing\/article\/maryland-saves-has-arrived-make-sure-your-clients-know-their-options\/","title":{"rendered":"Maryland Saves Has Arrived: Make Sure Your Clients Know Their Options"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>To give Maryland workers a better chance to save for their futures, the state created the \nMarylandSaves program. It\u2019s a state-administered Roth IRA that is designed to be a simple and \nstress-free retirement savings solution for employers and employees.<p>\n<p>Though this may seem like a simple and low-maintenance option for your clients, it may not be \nthe best choice. Let\u2019s take a deeper look at your clients\u2019 options so you can help them make an \ninformed decision.<\/p>\n<h2 style=\"text-align:center\">Key Takeaways:<\/h2>\n<ul>\n<li>Eligible businesses must register to enroll in MarylandSaves unless they offer a \nqualifying retirement plan.<\/li>\n<li>There are penalties for non-compliance.<\/li>\n<li>MarylandSaves may seem like a simple choice, but it may not be the smartest.<\/li>\n<li>An ePlan Services 401(k) plan could mean major saving opportunities for your clients.<\/li>\n<\/ul>\n<h2>What is MarylandSaves?<\/h2>\n<p>MarylandSaves, a Roth IRA savings program created by the state of Maryland to ensure that all \nworkers have access to retirement and emergency savings. Through automatic enrollment, a \npercentage of the employee\u2019s paycheck is transferred into their Roth IRA accounts. For \nemployees, participation is voluntary. They can choose to stay enrolled or opt out at any time if \nthey wish.<p>\n<h2>Is MarylandSaves mandatory for business owners?<\/h2>\n<p>Eligible Business owners who do not currently offer a retirement plan must enroll in \nMarylandSaves or another qualifying retirement plan. Business owners may be eligible for \nenrollment if they meet these conditions:<p>\n<ul>\n<li>They\u2019ve been in business for at least two years.<\/li>\n<li>They have at least one employee 18 years old or older.<\/li>\n<li>They use an automated payroll system.<\/li>\n<\/ul>\n<p>Luckily, MarylandSaves is not the only option for retirement savings. A suitable alternative such \nas an ePlan Services 401(k) retirement plan will allow plan participants to make higher plan \ncontributions as well as allow employers to make matching or profit-sharing contributions. This \ncan help employees to save even more for retirement.<\/p>\n\n<h2>What are the benefits of an ePlan 401(k) retirement plan?<\/h2>\n<p>Aside from higher contribution rates for plan participants, employers stand to gain as well. \nQualifying business owners who establish a new plan could receive up to $5,000 each year for 3 \nyears in tax credits. An additional credit of $500 for 3 years is available for qualifying employers\nutilizing automatic enrollment.  You can even show them their savings potential in real time with\nour <a href=\"https:\/\/secure.eplanservices401k.com\/tax-credit-estimator\/\">Tax Credit Estimator<\/a>.<\/p>\n<p>As their trusted advisor, you can even sweeten the deal by informing them that if they start a new\nplan with ePlan Services, they\u2019ll receive $1,000 off their setup fees. That\u2019s $1,000 dollars of \nadditional savings! But inform them quickly because this offer only lasts through December.<\/p>\n<h2>Conclusion:<\/h2>\n\n<p>It\u2019s your duty to ensure that you keep your clients informed of all their options so they can make \nan educated decision. Help your clients realize that they could be leaving up to $6,000 on the \ntable by not enrolling in an ePlan Services 401(k) retirement plan. For more information on how \nyou can collaborate with us to continue helping your clients while boosting your book of \nbusiness, reach out to our experienced <a href=\"https:\/\/secure.eplanservices401k.com\/PROD\/marketing\/contact\">sales team<\/a> today!<\/p>\n","protected":false},"featured_media":1395,"template":"","categories":[11,16],"tags":[],"class_list":["post-781","article","type-article","status-publish","has-post-thumbnail","hentry","category-article","category-for-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Maryland Saves Has Arrived: Make Sure Your Clients Know Their Options - ePlan Services<\/title>\n<meta name=\"description\" content=\"Are you Maryland clients aware of the MarylandSaves program? Ensure they are prepared with our helpful guide.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/secure.eplanservices401k.com\/marketing\/article\/maryland-saves-has-arrived-make-sure-your-clients-know-their-options\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maryland Saves Has Arrived: Make Sure Your Clients Know Their Options - ePlan Services\" \/>\n<meta property=\"og:description\" content=\"Are you Maryland clients aware of the MarylandSaves program? 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