On this week’s episode of Spotlight on Maryland, we spoke with Glenn Simmons, Executive Director of MarylandSaves, which is a new program unlike anything we’ve seen before. MarylandSaves is a retirement and savings program designed for small businesses and their employees. They launched in September 2022, but the bipartisan legislation that created this program was passed in 2016. Prior to MarylandSaves, no one has been able to establish a workplace retirement program that is as simple as this for small business owners. Nationally, more than 48% of people age 50 and older have nothing saved for retirement. According to AARP, people are 15 times more likely to save for retirement if they can save through an employer’s retirement program. Some of the employees in the MarylandSaves program are saving for the first time, and there’s no better time to start saving than right now if you haven’t started.
The program has so many benefits for small business owners and their employees; registration can take as little as 15 minutes! Check out MarylandSaves.com to learn more and start your retirement savings journey today. Listen to our full interview below!